Chuck Wiggin, a veteran real estate and investment broker in Oklahoma City since 1979 who served as receiver for First National Center in 1987, was among those in disbelief when Yashouafar led investment groups in buying the property for $21 million.
“I met some of his people at the time of the transaction,” Wiggin said. “They were very proud of what they did. I introduced them to some people. … But it didn't seem like it was a good deal.”
Wiggin suspects the felony embezzlement plea will further increase the odds against Yashouafar obtaining the $12 million in financing needed to retain control of First National.
“Even if the guy has great credit, the chances of getting $12 million for that building in today's market are very slim,” Wiggin said. “Now it may be impossible.”