Novato’s Pacific Private Money, a private real estate lender that marketed high-yield, short-term mortgage funds, abruptly shut its downtown office this week and left more than 100 investors without promised distributions. Many of those investors say they put in retirement savings and now fear most of the roughly $100 million tied up in the company’s funds may be gone. On a recent visit, the firm’s door at 1555 Grant Avenue bore a blunt note reading, “THIS OFFICE IS NOW CLOSED,” and customers report managers have stopped issuing the monthly payouts they had come to rely on, as per the San Francisco Chronicle.
Marin Prosecutors Launch Consumer-Protection Probe
Marin County prosecutors have opened an investigation into complaints about Pacific Private…..