Proposed Warren Capital Settlement Could Close Case

According to the North Bay Business Journal, court appointed receiver Michael Kasolas proposed a $2.2 million dollar settlement to be disbursed among nearly former Warren Capital investors.

The Journal noted that the proposed settlement would amount to a roughly 28 cents on the dollar return to investors, who were defrauded out of nearly $11.2 million when Stephens issued mostly false high-interest corporate promissory notes.

The matter is scheduled to be heard on August 21, the Journal said.

Read the full report from the North Bay Business Journal here.

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