BANKING & FINANCE - Nov. 18, 1993

Lincoln Mortgage Owner Files Chapter 11: Kenneth E. Sarvak, the owner of Lincoln Mortgage & Loan of Newport Beach, who was already under investigation for allegedly mishandling investors’ money, has filed for bankruptcy protection, listing Rams Head Coach Chuck Knox and Glenn Hoffman, a former Red Sox player and Dodger minor league field coordinator, as creditors. Investors in Lincoln Mortgage, more than 10 of whom have filed suit, say the two men are investors as well. Those who have sued Sarvak complain that they have not gotten their money back or, in some cases, been paid interest on their investments in months. A lawyer for Sarvak said the lawsuits drove Sarvak to file for bankruptcy Friday.