Carmel woman, 71, sues over $15 million loan - Santa Cruz Sentinel

A lawsuit filed Wednesday against a Monterey mortgage investment firm seeks the return of $15 million on behalf of people who invested in the Lake Elizabeth Golf and Country Club.

[Greed is Good]

"Lau's attorney, Allen Kaplan, said much of the $885,000 the woman invested with Nilsen's firm came from loans she took out on her own home."
So she probably withdrew the money on a line of credit at 7% to invest in a deal that would pay her 10% thinking she would come out ahead; the deal went bad and now she is suing. Just another example of greedy people who used their homes like ATM machines and they will expect someone else to pick up the tab.

[Sofa King Wee Todd Did]

Lau is an idiot, so are all the investors. when you have that much money only an idiot would part with it.
she deserves to get bungholed because she trusted a flim flam White man.
What was her immigration status?

[Duh]

He is still advertising in the Monterey County Weekly magazine on the back page "Ceder Funding Investors Individual seeking investors with Ceder Funding. Please contact fellow investor. Discretion assured. Write [e-mail] or investors c/o Monter Co. Weekly 668 William Ave Seaside, CA 93955 so hes not in that much trouble. The paper is dated May 8/14 2008