Oouch!! I lost $2.2 million in Nocturnal Disaster
Monday, May 21, 2012 - by N/a
Avatar Income Fund lost a ton of cash with Nocturnal.
The Seattle-based lender just sold the building for $1.6 million, lossing an estimated $2.2 million in the process ($3.8 million was the original loan made to Kore Entertainment).
Nocturnal was owned by Glenn Kofman. Kore Ent has since filed for bankruptcy leaving over 20 creditors with nothing but bad debts.