April 5, 1999
Sonali Assets Seized
Assets of Sonali Corp., Carlsbad, CA, were seized by San Diego County marshals after Wells Fargo Bank
filed legal documents saying the company owes it at least $13 million.
Sonali supplies 22k gold chains, earrings, rings, bracelets, bangles, necklaces and anklets to the
Published accounts of the seizure indicate the marshals confiscated hundreds of pounds of gold wrapped
in clear plastic bags plus all contents of the corporate office and bank accounts. Sonali owner Surya
Patangay was unavailable for comment, as was his attorney. Bank officials refused to comment.
No date has been set for a hearing. Sonali has the right to challenge the seizure and continue
operations, but it apparently has not done so. Telephone calls to the company were not answered, and
an e-mail to the company was returned labeled "user unknown."
- by Jack Heeger