“I believed that the loan in question was an investment transaction because the proceeds were used to pay for improvements and expenses of my investment property in San Pedro, which is outside the Long Beach jurisdiction and therefore exempt from reporting.
“However, in an effort to provide full disclosure and comply with all State and Federal regulations, attached you will find the amended reports.”
In a document supporting one of those reports is a $20,000 loan made July 31, 2000, by a Charles Westlund, whose occupation is listed as “retired.”
“It was a loan that I put together,” said “Jerry” Westlund, who owns the Fantasy Castle strip club in Signal Hill and 13 others in seven states. “I’ve done other loans like that and used my family’s trust money in doing that.”
The term “retired,” however, would imply the loan was made by Westlund’s father, who has the same name.
