Jadlos Leaves Phoenix Capital.(Brief Article)

Ted Jadlos, who co-founded Phoenix Capital here five years ago, has left the servicing brokerage/advisory firm to start his own company.

Mr. Jadlos says he departed from his employer because "it was time to move on."

However, there seems to be a difference of opinion concerning who founded the company and who owns it.

Another Phoenix principal, Richard M. Barnes, who serves as president of the firm, called this newspaper and left a message saying that he founded Phoenix, and that Mr. Jadlos was not an owner. Mr. Barnes did not return a follow-up telephone call.

A letter from Mr. Jadlos' attorney, Lawrence Theis, states that Mr. Jadlos owns 30% of "the Phoenix Capital" entities.

Articles of incorporation filed in Denver list Mr. Barnes as Phoenix's sole registered agent, but being a registered agent isn't the same thing as being an owner.

According to Mr. Jadlos, Phoenix brokered $175 billion worth of mortgage servicing deals over the past three years. He declined to say whether he resigned from Phoenix or whether he was asked to leave. He officially left the company some time in January, he said.