BANKING & FINANCE - Aug. 27, 1993
Judge Names Receiver for Spiegel: At the request of the Office of Thrift Supervision, a federal judge named a receiver to administer the assets of Thomas Spiegel, the once-high-flying thrift executive who now faces criminal charges that he looted millions of dollars from failed Columbia Savings & Loan in Beverly Hills. The OTS, which is seeking $40 million in restitution from Spiegel in a separate civil action, asked for the receiver because Spiegel was “spending as much as twice the normal $17,000 monthly living expenses” the agency had allowed him under an earlier order. The receiver is Los Angeles lawyer Edward S. Gelfand.
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