Remington Chairman urges industry to shore up fraud policies

Scandals prompt Andy Bogdanoff to call for re-examination of industry fraud policies to regain public trust

Scottsdale, February 26, 2010. Chairman and founder of Remington, Andy Bogdanoff, is calling on the financial services industry to shore up fraud policies and rectify any deficiencies. By doing so, Bogdanoff said, the financial services industry can help regain public confidence and trust, which has been sorely tested by recent scandals.

Bogdanoff has more than 35 years experience in the commercial real estate industry. Founded in 1993, Remington has grown into a national financial services company, arranging over the years more than $5 billion in real estate financing for all types of commercial property across the capital stack.

Taking the lead in the effort to regain public trust in the industry, Remington has implemented what is believed to be the most comprehensive and stringent fraud policy in the financial services industry. The Remington policy, Bogdanoff said, includes strict monitoring controls and rigorous due diligence procedures designed to protect the integrity of the company and the interests of every person and entity involved in Remington activities.

My hope, Bogdanoff said, is that our Fraud Policy will ultimately become the gold standard throughout the industry.

Our goal, Bogdanoff said, is to be super-vigilant against even the hint of fraudulent or other inappropriate activity by any employee, customer or lender. Such behavior will not be tolerated at Remington. Any violation of this policy will be met with swift and appropriate disciplinary or legal action, Bogdanoff said.

For more information on Remingtons fraud policy click here.

About Remington

Over the years, Remington has built an enviable track record of closing even the most challenging debt, mezzanine, and equity transactions. Our experienced associates specialize in developing and executing financing structures that turn often-problematic transactions into successful closings. The strong relationships Remington has built with hundreds of active funding sources around the world provides real estate brokers and their clients with the best access to commercial capital in the industry today.