Newport Coast invasion robbery was at home of former subprime lender

The home of a prominent former subprime lender was the target of a home invasion robbery in a gated Newport Beach community Tuesday night, an attack that left three people injured and police searching for two suspects.

Nine people were inside the home of Daniel Sadek when four men armed with handguns forced their way into the residence in the upscale Pelican Ridge community in Newport Coast, demanding cash and jewelry, police said. A fifth suspect, officers said, waited outside during the robbery.

Police said the intruders assaulted three people in the residence, one of whom was later hospitalized. Two others were treated at the scene.

Officers were notified of the robbery about 10:15 p.m. Tuesday, when someone called 911 from a cellphone from the backyard of the house. Three suspects were arrested in the neighborhood, but police said two remain at large.

"We quickly captured one in a nearby yard," said Newport Beach Police Lt. Craig Fox. He said the suspect may have suffered a broken ankle while trying to escape.

Another suspect was arrested trying to drive from the scene and the third was found sitting in a parking vehicle with the lights out.

The arrested men were identified as Mickael Andre Hastings, 36, of Los Angeles; Antoine Bashiri Boyd, 31, of Los Angeles, and Peter Joseph Paturzo, 44, of Mission Viejo. The three are each being held on $100,000 bail. Court records show that Paturzo was sentenced to 18 months in state prison in July 2004 after pleading guilty to 14 counts of forgery, burglary, fraud and related charges.

The home invasion robbery occurred in a normally placid community of estate-style homes along the coast. Kobe Bryant lives in the neighborhood and was forced to skip Wednesday’s practice with the Lakers because of the robbery.

The incident comes two weeks after emergency crews responded to an early-morning car fire at the same address. Fox said the cause of the fire is still being investigated.

Sadek, who founded Quick Loan Funding in 2002, wrote about $4 billion in subprime mortgages and produced the action film “Redline” before the mortgage firm collapsed in 2007. In a Times story after the film’s release, Sadek was identified as the owner of several tony restaurants in Newport Beach and an avid car collector.

In a September Vanity Fair feature, Sadek was ranked No. 86 on a list of 100 institutions and people most to blame for the nation’s current economic woes.

Police officials said multiple departments are assisting with the search for the two suspects including the Newport Beach Police Department SWAT team, and officers from Irvine, Costa Mesa, Huntington Beach and Santa Ana.

-- Gerrick D. Kennedy

Comments

[Antonio]

Ali baba and the forty thieves?

[Melaine Samson]

Just so I'm clear... who am I supposed to be mad at?

[RichDavid]

Probably couldn't happen to nicer people.