Banker Scott Coles and his wife at a charity event mere months before he killed himself and his company collapsed into bankruptcy
Here at DLT/Scoop Factory, we always love to hear from our readers. Even if you just want to say we suck and don’t know how to spell (complementary complimentary copyediting services are always appreciated).
However, a recent comment was so informative and heartfelt, that we decided it deserved its own post. It came in response to yesterday’s write-up on the long-awaited resurrection of the Centerpoint/West 6th Street towers looming over Downtown Tempe, as well as the project’s connection to Phoenix’s infamous ‘Tuxedo Suicide.’ One reader wrote in to tell us that it wasn’t just shady real estate developers and crooked bankers who were left holding the bag when longtime local lender, Mortgages Ltd., went belly up follwing the death of owner, Scott Coles (pictured). In fact, plenty of innocent people lost their life savings.
“Hello Scoop Factory – I would kindly ask everyone for some compassion by being a bit less ‘breezy’ in descriptions of the financial disaster that was the Centerpoint Condo’s…
Yes, it was made sensational by the tragic and strange suicide of Scott Coles … But it represented just the tip of the iceberg of a huge, Valley-wide real estate disaster that wiped out the retirement savings of a good many people, who had invested, in trust and good faith, with his company, Mortgages, Ltd.
My mother was one of those people …