Jeff Smith 12:15 p.m., April 24
Minkow Will Help Prosecution Investigate Developer
Barry Minkow, fraudster turned pastor/investigator, then charged with fraud himself, will help U.S. prosecutors investigate a San Diego developer, according to the Los Angeles Times. In a plea bargain, Minkow will help federal prosecutors investigate a San Diego developer who allegedly hired him to spread lies about Florida-based homebuilder Lennar Corp., according to the Times, which has seen the plea agreement. The developer is identified as "conspirator A," but attorneys says he is San Diego developer Nicolas Marsch III, who had teamed up with Lennar to developer a resort community called the Bridges at Rancho Santa Fe, which has been unprofitable. Marsch blamed Lennar for the losses but "has been the loser in several lawsuits against the company," says the Times. Minkow ran the Fraud Discovery Institute while being a pastor at San Diego's Community Bible Church. He resigned that post earlier when it was revealed that he would plead guilty to fraud charges.