content: SECURITIES AND EXCHANGE COMMISSION
  
                               Washington, D.C. 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): May 10, 2002 (May 8, 2002)
  
  
  
  
  
                         AMERICAN INSURED MORTGAGE INVESTORS
               (Exact name of registrant as specified in its charter)
  
          California                      1-11060                 13-3180848
  (State or other jurisdiction          (Commission            (I.R.S. Employer
       of incorporation)                 File Number)          Identification No.)
  
  
  
  
  
  
  
                                11200 Rockville Pike
                              Rockville, Maryland 20852
    (Address of principal executive offices, including zip code, of Registrant)
  
                                   (301) 816-2300
                (Registrant's telephone number, including area code)
  
  
  <PAGE>2
  
  
  Item 4.  Changes in Registrant's Certifying Accountant
  ------------------------------------------------------
  
       On May 8, 2002, CRIIMI,  Inc., a wholly owned subsidiary of CRIIMI MAE Inc.
  and the  general  partner  ("General  Partner")  of  American  Insured  Mortgage
  Investors (the "Partnership")  dismissed Arthur Andersen LLP ("Arthur Andersen")
  as the  Partnership's  independent  auditors.  Arthur Andersen has served as the
  Partnership's  independent  accountants  since 1991.  A new  independent  public
  accounting  firm is  expected to be engaged by the  General  Partner  during the
  second quarter of 2002.
  
       Arthur  Andersen's  reports  on the  Partnership's  consolidated  financial
  statements  for each of the past two  fiscal  years did not  contain  an adverse
  opinion or disclaimer of opinion, nor were such reports qualified or modified as
  to uncertainty, audit scope or accounting principles.
  
       During each of the  Partnership's  two most recent fiscal years and through
  the date of this report,  there were: (i) no disagreements  with Arthur Andersen
  on  any  matter  of  accounting  principle  or  practice,  financial  statements
  disclosure,  or auditing  scope or  procedure  which,  if not resolved to Arthur
  Andersen's satisfaction, would have caused them to make reference to the subject
  matter  in  connection  with  their  report  on the  Partnership's  consolidated
  financial statements for such years; and (ii) there were no reportable events as
  defined in Item 304(a)(1)(v) of Regulation S-K.
  
       The  General  Partner  has  provided  Arthur  Andersen  with a copy  of the
  foregoing  disclosures.  Attached  as Exhibit 16 is a copy of Arthur  Andersen's
  letter dated May 10, 2002, stating its agreement with such statements.
  
  Item 7.  Financial Statements and Exhibits.
  -------------------------------------------
  
  (c)  Exhibits. The following exhibits are filed with this report:
  
  Exhibit 16 - Letter from Arthur  Andersen  LLP to the  Securities  and  Exchange
  Commission dated May 10, 2002.
  
  Exhibit 99 - Press Release dated May 10, 2002.
  
  
  <PAGE>3
  
  SIGNATURE
  
       Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
  Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
  
  
                                         AMERICAN INSURED MORTGAGE
                                         INVESTORS
  
                                         By:  CRIIMI, Inc.
                                              General Partner
  
  
  Dated: May 10, 2002                    /s/ William B. Dockser
                                         ----------------------
                                         William B. Dockser
                                         Chairman of the Board
  
  
  
  
  <PAGE>4
  
  
                                    EXHIBIT INDEX
  
  Exhibit
  No.                                Description
  --------------------------------------------------------------------------------
  
  *16   Letter from Arthur  Andersen LLP to the Securities and Exchange Commission
        dated as of May 10, 2002.
  
  *99.1 Press Release dated May 10, 2002
  
  ----------------
  *Filed herewith.
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metadata_filer: {"company-data": {"conformed-name": "AMERICAN INSURED MORTGAGE INVESTORS", "cik": "0000724533", "assigned-sic": "6799", "irs-number": "133180848", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11060", "film-number": "02641341"}, "business-address": {"street1": "11200 ROCKVILLE PIKE", "city": "ROCKVILLE", "state": "MD", "zip": "20852", "phone": "3012310275"}, "mail-address": {"street1": "11200 ROCKVILLE PIKE", "city": "ROCKVILLE", "state": "MD", "zip": "20852"}}
text: SECURITIES AND EXCHANGE COMMISSION
  
                               Washington, D.C. 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): May 10, 2002 (May 8, 2002)
  
                         AMERICAN INSURED MORTGAGE INVESTORS
               (Exact name of registrant as specified in its charter)
  
          California                      1-11060                 13-3180848
  (State or other jurisdiction          (Commission            (I.R.S. Employer
       of incorporation)                 File Number)          Identification No.)
  
                                11200 Rockville Pike
                              Rockville, Maryland 20852
    (Address of principal executive offices, including zip code, of Registrant)
  
                                   (301) 816-2300
                (Registrant's telephone number, including area code)
  2
  
  Item 4.  Changes in Registrant's Certifying Accountant
  ------------------------------------------------------
  
       On May 8, 2002, CRIIMI,  Inc., a wholly owned subsidiary of CRIIMI MAE Inc.
  and the  general  partner  ("General  Partner")  of  American  Insured  Mortgage
  Investors (the "Partnership")  dismissed Arthur Andersen LLP ("Arthur Andersen")
  as the  Partnership's  independent  auditors.  Arthur Andersen has served as the
  Partnership's  independent  accountants  since 1991.  A new  independent  public
  accounting  firm is  expected to be engaged by the  General  Partner  during the
  second quarter of 2002.
  
       Arthur  Andersen's  reports  on the  Partnership's  consolidated  financial
  statements  for each of the past two  fiscal  years did not  contain  an adverse
  opinion or disclaimer of opinion, nor were such reports qualified or modified as
  to uncertainty, audit scope or accounting principles.
  
       During each of the  Partnership's  two most recent fiscal years and through
  the date of this report,  there were: (i) no disagreements  with Arthur Andersen
  on  any  matter  of  accounting  principle  or  practice,  financial  statements
  disclosure,  or auditing  scope or  procedure  which,  if not resolved to Arthur
  Andersen's satisfaction, would have caused them to make reference to the subject
  matter  in  connection  with  their  report  on the  Partnership's  consolidated
  financial statements for such years; and (ii) there were no reportable events as
  defined in Item 304(a)(1)(v) of Regulation S-K.
  
       The  General  Partner  has  provided  Arthur  Andersen  with a copy  of the
  foregoing  disclosures.  Attached  as Exhibit 16 is a copy of Arthur  Andersen's
  letter dated May 10, 2002, stating its agreement with such statements.
  
  Item 7.  Financial Statements and Exhibits.
  -------------------------------------------
  
  (c)  Exhibits. The following exhibits are filed with this report:
  
  Exhibit 16 - Letter from Arthur  Andersen  LLP to the  Securities  and  Exchange
  Commission dated May 10, 2002.
  
  Exhibit 99 - Press Release dated May 10, 2002.
  3
  
  SIGNATURE
  
       Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
  Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
                                         AMERICAN INSURED MORTGAGE
                                         INVESTORS
  
                                         By:  CRIIMI, Inc.
                                              General Partner
  
  Dated: May 10, 2002                    /s/ William B. Dockser
                                         ----------------------
                                         William B. Dockser
                                         Chairman of the Board
  4
  
                                    EXHIBIT INDEX
  
  Exhibit
  No.                                Description
  --------------------------------------------------------------------------------
  
  *16   Letter from Arthur  Andersen LLP to the Securities and Exchange Commission
        dated as of May 10, 2002.
  
  *99.1 Press Release dated May 10, 2002
  
  ----------------
  *Filed herewith.