Friday, May 8, 2009

Jaguar Group

          Jaguar Group (allegedly)
          Borrowed millions from regional banks
          Secured by 92 properties
          To purchase subprime mortgages

          Jaguar Group (allegedly)
          Transferred or encumbered 52 properties
          Without telling the banks about it
          As was required contractually

          Jaguar Group (allegedly)
          Stopped making payments on the loans
          When the subprime mortgages
          Stopped performing economically

          The banks (understandably)
          Were surprised and none too happy
          When they learned that their collateral
          Wasn't there (allegedly)

          Lawsuit City (naturally)

Source: "Lenders Bitten by the Jaguar Group", Denver Business Journal, May 8, 2009.

1 comment:

  1. No doubt they're now running away faster than a pack (gaggle?) of jaguars.



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