Barrington Real Estate Investors is a multi-million dollar company that specializes in buying and selling commercial real estate in the Phoenix-area, but the founder and owner is a former investment banker at a bank that went under in 2008.
Barrington, like many of the others on this list, has been in trouble with regulators in the past.
The bank received a $1 billion loan in 2009 from the Department of Housing and Urban Development and a $500 million loan from the Federal Housing Administration.
A year later, the bank was fined $1 million by the U.S. Department of Justice for a scheme in which it illegally used its leverage to buy mortgage-backed securities and mortgage-related loans for low-income and minority households.
The lender also admitted it had a $30 million loss in 2010.
In 2016, the agency fined Barrington for a fraud scheme, including the sale of $250 million in mortgage-linked securities to people who were not qualified borrowers.
That was one of three violations it levied against the company.
But the real estate company said the violations were not related to the $250-million mortgage sale and said that it was the government’s fault that it took the bank’s loans and sold them at a loss.
The company’s stock dropped by more than 30% in 2016.
But it rallied back to $100 a share in September.
The company’s shares were valued at $1,000 in August and traded at about $1 each on Monday.
This is the latest in a string of financial troubles for Barrington.
Last year, it announced it had to close several of its offices and put hundreds of employees out of work.
In June, the company was hit with a $6.5 billion fine by the Office of Thrift Supervision, the federal agency charged with supervising banks for their actions with the federal Housing and Economic Recovery Act of 2008.
The office fined Barrettes $1 in each of the previous three years, and it had been under investigation for nearly two years.
The department said in June that it expected to take additional enforcement action against Barrington in 2018.