State suspends license of Aspen Financial, run by former Gov. Guinn’s son

The Nevada Mortgage Lending Division has suspended the license of Aspen Financial Services LLC run by Jeffrey Guinn, son of former Republican Gov. Kenny Guinn, claiming the company is “financially insolvent.”

A state review of the Las Vegas-based company’s books and records in April determined the company was “insolvent and unable to do business,” said James Westrin, commissioner of the Division of Mortgage Lending. The firm’s balance was a negative $719,180.

The company has held a mortgage broker license in Nevada since 1995. But on March 26, a Clark County District Court judge entered a $7.9 million judgment against Aspen in favor of City National Bank.

Guinn was unavailable for comment Thursday.

With the court ruling, Aspen’s net worth declined to a negative $8.6 million.

Westrin said the firm’s continued operation “posed an immediate risk to public welfare.” The suspension is effective immediately and Westrin has ordered Guinn and his company to file by Wednesday a report on all of its existing business.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.