Trio Arrested for Newport Beach Home Invasion
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Four armed men forced their way into a Newport Beach mansion in the Pelican Ridge gated community, on the night of December 9, 2009. Three of them ransacked the home and stole cash and jewelry while the fourth remained outside as a lookout. The target of this violent crime was Daniel Sadek, former head and founder of Quick Loan Funding, a collapsed subprime mortgage lender that wen belly up in 2007.
After a manhunt, three of the suspected robbers were arrested by the Newport Beach Police Department. Two remain at large. Each was held in lieu of $100,000 bail. Two were booked on suspicion of robbery. One is booked on suspicion of conspiracy to commit robbery.
Sadek’s mansion was also the scene of a fire two weeks ago, during which a Mercedes Benz mysteriously went up in flames. Officials have yet to determine whether this might be related to the home invasion. It is also not clear if the gunmen knew the people they attacked, if they had a motive other than robbery, or if Sadek was even home at the time.
Daniel Sadek’s company, which he founded in 2002, once did about $4 billion worth of business. He recently declared bankruptcy in Nevada.
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This article was written by admin on December 15, 2009