MARKET SCAMS

[thepennyking]

"collateral dependant" loans /$ 12
by: jtsummer82 02/27/04 04:57 pm
Msg: 99 of 99

Yeh, the ex President sold at 12.50 according to the SEC filing. You can bet he knew what a mess the place was in.

They really messed up.

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7084009&tid=sobi&sid=708...

Re: jeffry gendell
by: fetzervalve23 02/25/04 05:18 pm
Msg: 97 of 99

Here's his information from a recent SEC filing. According to the filing, he's a fund manager that owns about 200 stocks, virtually all of them in the financial services area. SOBI is a very small part of his portfolio, less than 1% looks like. You can see for yourself by going to the SEC website and searching.

Name: Tontine Financial Partners LP
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Address: 55 Railroad Avenue
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3rd Floor
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Greenwich, CT 06830

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7084009&tid=sobi&sid=708...

The significant losses incurred on repossessed and other assets during the three and six months ended December 31, 2003 resulted from downward adjustments in the value of these assets following updated appraisals of collateral securing certain of the unauthorized and fraudulent loans which the Company was able to complete during the quarter ended December 31, 2003. Certain of these appraisals updated previous appraisals obtained from law enforcement agencies for the properties in their possession. Construction expenses were also incurred in excess of previous estimates in order to make certain properties more saleable. As of December 31, 2003, there were assets totaling $2.16 million under the control of the U.S. Government. The Company's ability to sell and obtain the proceeds of these assets is dependent on the successful prosecution of certain individuals involved in the unauthorized and fraudulent loans matter, as well as any delays that may occur in this process. To the extent the prosecutions are unsuccessful, these assets will be returned to the individuals from whom they were seized, potentially delaying the Company's recovery on these assets and possibly reducing the recovery amount.

http://biz.yahoo.com/e/040217/sobi10qsb.html