REAL ESTATE
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Business Journal’s Owner Indicted: Real estate developer and newspaper owner Larry J. Bridges was indicted in Kansas City recently on charges that he and three associates rigged bids on office property leases to the federal government. Bridges, who owns the Los Angeles, Orange County, and San Diego Business Journals, allegedly worked with Frank S. Morgan, I. I. (Izzy) Ozar and Sherman W. Dreiseszun to control the bidding on three office leases for the Internal Revenue Service, valued at over a million dollars each. The maximum penalty if Bridges is convicted of all charges would be 50 years in prison without possibility of parole and up to $4 million in fines, officials said.
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