Vestin agrees to $5,000 fine for ad violations
Friday, Aug. 6, 2004 | 11:10 a.m.
Vestin Mortgage Inc., a big Las Vegas lender, has agreed to pay $5,000 to settle a Nevada Division of Mortgage Lending complaint over Vestin advertising.
The Mortgage Lending Division alleged that Vestin placed an advertisement that suggested that an investor would be guaranteed a specific rate of return or a specific rate of interest on the principal amount of money invested, which would be a violation of Nevada law.
The division also alleged that Vestin did not include its name, address and telephone number on all of its advertisements, a violation of Nevada regulations.
Vestin collects investments from individuals and then loans the funds to developers.
Vestin waived its right to an administrative hearing in an effort to resolve the dispute and agreed to pay $5,000 to cover the division's investigative and attorney's fees. As part of the settlement, Vestin agreed to comply with all advertising requirements in the future.
"We were pleased to have a discussion with the Mortgage Lending Division and come to an equitable agreement and settlement," Vestin spokesman Steve Stern said Thursday.
archive
- Most Read
- Discussed
- Most E-mailed
- Metro admits to improper release of criminal history data
- Locomotives win inaugural UFL championship
- Wonder drug for men flops, suggestive ad campaign coming under scrutiny
- Was a foiled bank heist a cry for help?
- If Palin’s book is so bad, then why is it a best-seller?
- Q&A: MMA fighter and Playboy model Latasha Marzolla
- CityCenter: One man’s concept of a real city
- UNLV recalls last year’s close shave at Louisville
- Metro corrections officer remembered for his love of family
- Live game blog: Bellfield, UNLV come through late, upset No. 16 Louisville
Blogs
The Kats Report
Could a savior of shuttered Las Vegas Art Museum be ... Peter Max? (6 Comments)
For Paul Stanley and KISS, rock and roll is not over (6 Comments)
Twenty years ago today, Human Nature took root on the farm (1 Comment)
Robin Leach's Las Vegas Celebrity Watch
Photo Gallery: Donny Osmond’s triumphant return to the Flamingo
The Kats Report
'DWTS' champ Donny Osmond still deft afoot in return to Flamingo (8 Comments)
Politics: The Early Line
Meeting of GOP governors draws challengers, not Gibbons (5 Comments)
Politics: Ralston's Flash
Oscar loves forcing developers to sign labor peace agreements, Culinary loves the city's downtown plans and all is forgiven (10 Comments)
Calendar »
- 29 Sun
- 30 Mon
- 1 Tue
- 2 Wed
- 3 Thu
-
Tahoe Takeover at The Bank
The Bank | 10 p.m. to 11:59 p.m.
-
Playboy Club model search
Playboy Club | 10 p.m. to 11:59 p.m.
-
Queen of Queens at Revolution Lounge
Beatles Revolution Lounge | 10 p.m. to 11:59 p.m.
-
Zowie Bowie's Vintage Vegas Show at Monte Carlo
Lance Burton Theater
The Sun
Locally owned and independent for more than 50 years.
Technorati









