April 16, 2004

Fraud investigation of investment firm begins

SEATTLE, Wash. - CLS Financial Services of Lynnwood, a real-estate financing and investment firm, filed for Chapter 11 bankruptcy protection last week amid a state securities-fraud investigation that began in October.

CLS, led by President Jerry Vanhook, has several related businesses, including mortgage lender HomeSmart, loan-servicing firm Puget Sound Real Estate Services Group and Puget Sound Investment Group. Puget Sound Investment Group filed for Chapter 7 bankruptcy Thursday.


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