content: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, DC 20549
                                    -------------
  
                                      FORM 8-K
  
                                   CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF THE
                           SECURITIES EXCHANGE ACT OF 1934
  
            Date of report (Date of earliest event reported) June 1, 2001
  
  
                            Fog Cutter Capital Group Inc.
                 (Exact Name of Registrant as Specified in Charter)
  
  
  
             Maryland                    0-23911              52-2081138
   (State or Other Jurisdiction        (Commission          (IRS Employer
         of Incorporation)             File Number)       Identification No.)
  
  
                     1631 SW Columbia Street, Portland, OR 97201
                 (Address of principal executive offices) (Zip Code)
  
  
          Registrant's telephone number, including area code (503) 721-6500
  
  
  
  Item 5.        Other Events.
  
    On June 1,  2001,  the Board of  Directors  of Fog Cutter  Capital  Group Inc.
  (Nasdaq:  FCCG)  named R. Scott  Stevenson  as Senior Vice  President  and Chief
  Financial Officer. Mr. Stevenson replaces Chris Tassos who resigned as Executive
  Vice President and Chief Financial Officer in order to pursue other interests.
  
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  
  (c)      Exhibits.
  
           The following exhibit is filed as part of this report:
  
           99.1 Press Release dated June 1, 2001.
  
  
  <PAGE>
  
  
                                     SIGNATURES
  
  
      Pursuant to the requirements of the Securities Exchange Act of 1934, Fog
  Cutter Capital Group Inc. has duly caused this report to be signed on its behalf
  by the undersigned hereunto duly authorized.
  
  Date:  June 6, 2001
  
                                            FOG CUTTER CAPITAL GROUP INC.
  
  
                                           By: /s/ Lawrence A. Mendelsohn
                                                -------------------------
                                                Lawrence A. Mendelsohn
                                                President
  
  
                                            By: /s/ R. Scott Stevenson
                                                -------------------------
                                                R. Scott Stevenson
                                                Senior Vice President and
                                                Chief Financial Officer
  
  
  
  
  
  <PAGE>
  
  
  Exhibit 99.1
  
  For Immediate Release
  ---------------------
  
  CONTACT: Fog Cutter Capital Group Inc.,(503) 721-6500; Andrew A. Wiederhorn,
  Chairman and CEO; Lawrence A. Mendelsohn, President; or R. Scott Stevenson,
  Chief Financial Officer
  
  
  
           FOG CUTTER CAPITAL GROUP INC. NAMES R. SCOTT STEVENSON AS CHIEF
                                 FINANCIAL OFFICER
  
  PORTLAND, Ore.-- June 1, 2001 - The Board of Directors of Fog Cutter Capital
  Group Inc. (Nasdaq: FCCG), an opportunistic investment group specializing in
  mortgage and real estate related assets, has named R. Scott Stevenson as Senior
  Vice President and Chief Financial Officer. Stevenson replaces Chris Tassos who
  resigned as Executive Vice President and Chief Financial Officer in order to
  pursue other interests.
  
  Mr. Stevenson has been Senior Vice President of Fog Cutter since joining the
  Company in 1999. From 1997 to 1999 he was Senior Vice President-Finance for
  Wilshire Financial Services Group Inc.(WFSG), where he was responsible for the
  accounting and investor reporting functions. From 1986 to 1997 he was an officer
  of Girard Savings Bank, FSB holding various positions over that period,
  including Chief Financial Officer, Chief Operating Officer, Chief Executive
  Officer and Director. Girard was acquired by WFSG in 1994. From 1982 to 1986 Mr.
  Stevenson was a tax consultant with the international accounting firm of Touche
  Ross & Co. He holds a Masters Degree in accounting from Brigham Young University
  and is a Certified Public Accountant.
  
  
  Forward Looking Statements
  The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
  for forward-looking statements so long as those statements are identified as
  forward-looking and are accompanied by meaningful cautionary statements
  identifying important factors that could cause actual results to differ
  materially from those projected in such statements. All of the statements
  contained in this release, which are not identified as historical, should be
  considered forward-looking. In connection with certain forward-looking
  statements contained in this release and those that may be made in the future by
  or on behalf of the company which are identified as forward-looking, the company
  notes that there are various factors that could cause actual results to differ
  materially from those set forth in any such forward-looking statements. Such
  factors include but are not limited to, the real estate market,
  
  
  <PAGE>
  
  
  the availability of real estate assets at acceptable prices, the availability of
  financing, interest rates, and European markets. Accordingly, there can be no
  assurance that the forward-looking statements contained in this release will be
  realized or that actual results will not be significantly higher or lower. The
  forward-looking statements have not been audited by, examined by, or subjected
  to agreed-upon procedures by independent accountants, and no third party has
  independently verified or reviewed such statements. Readers of this release
  should consider these facts in evaluating the information contained herein. The
  inclusion of the forward-looking statements contained in this release should not
  be regarded as a representation by the company or any other person that the
  forward-looking statements contained in this release will be achieved. In light
  of the foregoing, readers of this release are cautioned not to place undue
  reliance on the forward-looking statements contained herein.
  
  
  <
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metadata_filer: {"company-data": {"conformed-name": "FOG CUTTER CAPITAL GROUP INC", "cik": "0001048566", "assigned-sic": "6798", "irs-number": "522081138", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23911", "film-number": "1655522"}, "business-address": {"street1": "1631 SW COLUMBIA STREET", "city": "PORTLAND", "state": "OR", "zip": "97201", "phone": "5037216500"}, "mail-address": {"street1": "1310 S W 17TH ST", "city": "PORTLAND", "state": "OR", "zip": "97201"}, "former-company": {"former-conformed-name": "WILSHIRE REAL ESTATE INVESTMENT TRUST INC", "date-changed": "19971027"}}
text: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, DC 20549
                                    -------------
  
                                      FORM 8-K
  
                                   CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF THE
                           SECURITIES EXCHANGE ACT OF 1934
  
            Date of report (Date of earliest event reported) June 1, 2001
  
                            Fog Cutter Capital Group Inc.
                 (Exact Name of Registrant as Specified in Charter)
  
             Maryland                    0-23911              52-2081138
   (State or Other Jurisdiction        (Commission          (IRS Employer
         of Incorporation)             File Number)       Identification No.)
  
                     1631 SW Columbia Street, Portland, OR 97201
                 (Address of principal executive offices) (Zip Code)
  
          Registrant's telephone number, including area code (503) 721-6500
  
  Item 5.        Other Events.
  
    On June 1,  2001,  the Board of  Directors  of Fog Cutter  Capital  Group Inc.
  (Nasdaq:  FCCG)  named R. Scott  Stevenson  as Senior Vice  President  and Chief
  Financial Officer. Mr. Stevenson replaces Chris Tassos who resigned as Executive
  Vice President and Chief Financial Officer in order to pursue other interests.
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  
  (c)      Exhibits.
  
           The following exhibit is filed as part of this report:
  
           99.1 Press Release dated June 1, 2001.
  SIGNATURES
  
      Pursuant to the requirements of the Securities Exchange Act of 1934, Fog
  Cutter Capital Group Inc. has duly caused this report to be signed on its behalf
  by the undersigned hereunto duly authorized.
  
  Date:  June 6, 2001
  
                                            FOG CUTTER CAPITAL GROUP INC.
  
                                           By: /s/ Lawrence A. Mendelsohn
                                                -------------------------
                                                Lawrence A. Mendelsohn
                                                President
  
                                            By: /s/ R. Scott Stevenson
                                                -------------------------
                                                R. Scott Stevenson
                                                Senior Vice President and
                                                Chief Financial Officer
  Exhibit 99.1
  
  For Immediate Release
  ---------------------
  
  CONTACT: Fog Cutter Capital Group Inc.,(503) 721-6500; Andrew A. Wiederhorn,
  Chairman and CEO; Lawrence A. Mendelsohn, President; or R. Scott Stevenson,
  Chief Financial Officer
  
           FOG CUTTER CAPITAL GROUP INC. NAMES R. SCOTT STEVENSON AS CHIEF
                                 FINANCIAL OFFICER
  
  PORTLAND, Ore.-- June 1, 2001 - The Board of Directors of Fog Cutter Capital
  Group Inc. (Nasdaq: FCCG), an opportunistic investment group specializing in
  mortgage and real estate related assets, has named R. Scott Stevenson as Senior
  Vice President and Chief Financial Officer. Stevenson replaces Chris Tassos who
  resigned as Executive Vice President and Chief Financial Officer in order to
  pursue other interests.
  
  Mr. Stevenson has been Senior Vice President of Fog Cutter since joining the
  Company in 1999. From 1997 to 1999 he was Senior Vice President-Finance for
  Wilshire Financial Services Group Inc.(WFSG), where he was responsible for the
  accounting and investor reporting functions. From 1986 to 1997 he was an officer
  of Girard Savings Bank, FSB holding various positions over that period,
  including Chief Financial Officer, Chief Operating Officer, Chief Executive
  Officer and Director. Girard was acquired by WFSG in 1994. From 1982 to 1986 Mr.
  Stevenson was a tax consultant with the international accounting firm of Touche
  Ross & Co. He holds a Masters Degree in accounting from Brigham Young University
  and is a Certified Public Accountant.
  
  Forward Looking Statements
  The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
  for forward-looking statements so long as those statements are identified as
  forward-looking and are accompanied by meaningful cautionary statements
  identifying important factors that could cause actual results to differ
  materially from those projected in such statements. All of the statements
  contained in this release, which are not identified as historical, should be
  considered forward-looking. In connection with certain forward-looking
  statements contained in this release and those that may be made in the future by
  or on behalf of the company which are identified as forward-looking, the company
  notes that there are various factors that could cause actual results to differ
  materially from those set forth in any such forward-looking statements. Such
  factors include but are not limited to, the real estate market,