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Yashouafar fraud sentencing delayed

Court sentencing for Aaron Yashouafar, best known locally as the owner of First National Center, was delayed Wednesday for 45 days as questions persist as to whether he fully compensated residents of the Paradise Spa condominiums in Las Vegas.
by Steve Lackmeyer Published: November 15, 2012

The indictment goes on to allege that in some cases, Yashouafar rented units he owned to the displaced condo owners, resulting in them paying him rent while they waited for repairs that were never done because of the alleged theft.

Masto said bank records show that in September 2009, Yashouafar, in his capacity as treasurer, wired more than $250,000 from the Paradise Spa operating account. She said he subsequently deposited that money into an out-of-state account and disbursed the money into various personal projects.

Yashouafar did not respond to interview requests Wednesday from The Oklahoman.

Bill O'Donnell with the Paradise Spa residents said $1.77 million in homeowner association fees are still in dispute, and $1.2 million that Yashouafar's attorneys said was paid to the complex's receiver has yet to be given to residents.

O'Donnell said his group is hiring an auditor.

“I think they're buying time,” O'Donnell said. “They don't have any money. They don't have money for First National, they don't have money for (properties owned in) Houston. They're just praying this whole thing turns around.”

by Steve Lackmeyer
Business Reporter
Steve Lackmeyer is a reporter and columnist who started his career at The Oklahoman in 1990. Since then, he has won numerous awards for his coverage, which included the 1995 bombing of the Alfred P. Murrah Federal Building, the city's Metropolitan...
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