Sad Rady Kin Story
Written by admin on February 26, 2010
- Relatives of La Jolla philanthropist Ernest Rady have filed two lawsuits to block $21 million of a $60 million donation he gave to Rady Children’s Hospital in 2006.
The suits, filed by Canadian nieces and nephews of Rady, claim they never agreed to fund more than half of the $60 million gift to the hospital with money from American Assets Incorporated, the family’s real estate development, financial services and investment management company.
In a statement, Ernest Rady says his financial pledge to Children’s Hospital would be honored in full.
New Hotel At Ponto Beach…Yipee
Written by admin on June 14, 2009
The City Council gave its unanimous approval Tuesday to a 215-room hotel project that could be the start of a large-scale revamping of Carlsbad’s southern Ponto beachfront region.
Council members also heard that night from about a dozen people with conflicting viewpoints on a proposal to ban night-time parking in a Rancho Carrillo neighborhood, and agreed to support an emotion-packed appeal to name a city ballfield for Carlsbad teen who died late last year.
The Hilton hotel project is proposed for an 8-acre site in the far northern end of the Ponto region, adjacent to the Hanover Beach Colony housing development. Several years ago, when the city first began discussing the project as part of a renovation plan for the entire Ponto region, a number of Hanover Beach residents expressed their opposition. And that includes me. Is there ANY area that we can continue to keep beach only? Such a tourist trap.
Local Man Busted On Fraud Charges
Written by admin on June 5, 2009
The Securities and Exchange Commission says a San Diego man who raised $70 million from 300 investors was running a scam.
The SEC complaint filed Monday in federal court and announced Thursday accuses MAK 1 Enterprises Group LLC and its 32-year-old chief executive, Mohit A. Khanna, of securities fraud. It says he raised money from investors in California, Texas, New York and elsewhere, promising returns of up to 55 percent.
The SEC says Khanna misspent money to pay for luxury properties and cars and he fabricated account balances.
District Judge Roger Benitez has ordered a freeze on the firm’s assets.
The Commodity Futures Trading Commission filed similar charges in federal court.
