Thursday, September 23, 2010

Hedge Fund Seizing L.A. Radio Mogul’s Huge Estate

Connecticut hedge fund New Stream Capital is about to seize one of LA’s most expensive mansions. Self made radio mogul Ken Roberts, who’s been tied up in a nasty loan-to-own battle with the fund, told ME he’s set to turn the keys over Monday because he couldn’t pay back the $27.5 million he was court ordered to pay the hedge fund. Roberts says–like others who took short-term high-interest loans from Ridgefield-based New Stream, and secured the notes with their most valuable possessions– has discovered the fund wasn’t intending to just make him a loan, it really wanted to get control of his high-value property.

Read complete article here.

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