Paramount Limited LLC
George Kastanes, Teresa Kastanes
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- Paramount Limited LLC
- Industry
- Real estate (foreclosed / tax-delinquent Detroit properties) financed by pension fund loan
- How investors were recruited
- Detroit Police and Fire Retirement System pension fund money obtained via a $10M loan to intermediary (McWhorter)
- Pitch & red flags
- pitched the pension fund on buying distressed mortgage loans for resale, obtaining a $10M loan at 18% a year; sent false "updates affirming that the operation was functioning as promised"