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) August 30, 2002


                          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.)


                  1410 SW Jefferson 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 August 30, 2002, Lawrence A. Mendelsohn resigned as President and as a
member of the Board of Directors of Fog Cutter Capital Group Inc. (the
"Company"). Mr. Mendelsohn also resigned from all other offices held with
subsidiaries or profit sharing entities of the Company. The resignation was made
to allow Mr. Mendelsohn to pursue other interests and was effective immediately.


Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

(c)   Exhibits.

      The following exhibits are filed as part of this report:

      Exhibit 1.1 Lawrence A. Mendelsohn Resignation Letter dated August 30,
2002.

      Exhibit 1.2 Press Release dated September 3, 2002 announcing the
resignation of Lawrence A. Mendelsohn.




                                   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:  September 3, 2002

                                          FOG CUTTER CAPITAL GROUP INC.




                                          By: /s/ R. Scott Stevenson
                                              -------------------------
                                              R. Scott Stevenson
                                              Senior Vice President and
                                              Chief Financial Officer