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The exterior of the house where three women who had disappeared as teenagers approximately ten years ago were found alive on May 7 in Cleveland, Ohio. Photo by Pugliano/Getty Images
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The Office’s best Jewish moment
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On an otherwise unremarkable day in 1938, a chubby but charming student at John Burroughs Junior High in Los Angeles “cracked the code of his comic gift and discovered his…
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7 Rules for Perfect Hummus
When was the last time you opened a tub of hummus and swooned? When was the last time a restaurant put a plate of hummus in front of you, and…
Survivor: Irene Rosenberg
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The Divine Wedding and Kiss - Parashat Naso
“O for your kiss! For your love / More enticing than wine, / For your scent and sweet name – For all this they love you. Take me away to…
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What would my Israeli grandmother think?
When I hear about the latest events in Israel – the air strikes on weapons facilities in Syria, the flare-ups over women donning prayer shawls at the Western Wall –…
A hot topic, a great panel, and chance to learn and discuss—immigration at issue
It's a critical time for immigration reform in this country. Washington is getting set to make major changes, the likes of which haven't been seen since the 1980's under President…
State 194: A Documentary About Palestine
Opening this weekend at Laemmle’s Music Hall 3 is a very hot-button new documentary called State 194, which follows the recent history of Palestine. Many will approach this film with…
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March 5, 2009 | 7:06 pm
Move over Madoff, L.A. gets its own indicted philanthropist
Posted by Adam Wills
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Bruce Friedman
Sherman Oaks-based mortgage banker Bruce Friedman, whose Friedman Charitable Foundation committed $10 million to the Children’s Museum of Los Angeles and $1 million to Brandon’s Village, a special-needs park in Calabasas, was indicted on securities fraud charges today by the Securities and Exchange Commission.
The SEC alleges Freidman, along with his two companies—Diversified Lending Group (DLG) and Applied Equities, Inc. (AEI)—perpetrated a $216 million real estate investment fraud, raising money from hundreds of investors nationwide, many of whom are seniors, promising guaranteed high returns via real estate investments.
The complaint alleges that Friedman diverted substantial investor money to ventures unrelated to real estate, and misappropriated at least $17 million to support his lavish lifestyle, including purchases of a luxury home, cars, vacations, jewelry, and designer clothing for himself and an alleged girlfriend.
The SEC has frozen DLG’s, AEI’s and Friedman’s assets.
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