-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 I3sf5GAW617SVJotdbK4RcsXZttwmkKg8lPeCCVDKHgzporEe3/dNj4uObCHf6zK
 pwQ3AGtphB1hx+vJH5FyQA==

<SEC-DOCUMENT>0001179110-04-006248.txt : 20040318
<SEC-HEADER>0001179110-04-006248.hdr.sgml : 20040318
<ACCEPTANCE-DATETIME>20040318121622
ACCESSION NUMBER:		0001179110-04-006248
CONFORMED SUBMISSION TYPE:	5/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040318

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WIEDERHORN ANDREW
		CENTRAL INDEX KEY:			0001033016

	FILING VALUES:
		FORM TYPE:		5/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23911
		FILM NUMBER:		04677133

	BUSINESS ADDRESS:	
		STREET 1:		C/O WILSHIRE FINANCIAL SERVICES GROUP
		STREET 2:		1776 SW MADISON STREET
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97205
		BUSINESS PHONE:		5032235600

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FOG CUTTER CAPITAL GROUP INC
		CENTRAL INDEX KEY:			0001048566
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				522081138
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1631 SW COLUMBIA STREET
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97201
		BUSINESS PHONE:		5037216500

	MAIL ADDRESS:	
		STREET 1:		1310 S W 17TH ST
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WILSHIRE REAL ESTATE INVESTMENT TRUST INC
		DATE OF NAME CHANGE:	19971027
</SEC-HEADER>
<DOCUMENT>
<TYPE>5/A
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5/A -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5/A</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <dateOfOriginalSubmission>2004-02-11</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001048566</issuerCik>
        <issuerName>FOG CUTTER CAPITAL GROUP INC</issuerName>
        <issuerTradingSymbol>FCCG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001033016</rptOwnerCik>
            <rptOwnerName>WIEDERHORN ANDREW</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FOG CUTTER CAPITAL GROUP INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1410 SW JEFFERSON STREET</rptOwnerStreet2>
            <rptOwnerCity>PORTLAND</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97201-2548</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>413755</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Spouse</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>250000</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By GRAT</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>951709</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By LP</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13826</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By LLC</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>128376</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Minor Children</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">This amendment is filed to correct the beneficial ownership of the spouse of the Reporting Person at December 31, 2003. A Form 5 filed on February 11, 2004, incorrectly reported that the spouse of the Reporting Person beneficially owned 403,755 shares of Common Stock at December 31, 2003. The spouse of the Reporting Person actually owned 413,755 shares of Common Stock at December 31, 2003.</footnote>
        <footnote id="F2">The Tiffany A. Wiederhorn Grantor Retained Annuity Trust I (&quot;GRAT&quot;), of which the spouse of the Reporting Person is the grantor and trustee, transferred 7,965 shares of Common Stock to the spouse of the Reporting Person on January 20, 2004. The beneficial ownership of the spouse of the Reporting Person after this transfer is 421,720 shares of Common Stock. The GRAT beneficially owned 242,035 shares of Common Stock after this transfer.</footnote>
        <footnote id="F3">The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of said securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F4">These securities are held by the Tiffany A. Wiederhorn Grantor Retained Annuity Trust I of which the spouse of the reporting person is the trustee and grantor.</footnote>
        <footnote id="F5">These securities are held by TTMM, LP, a partnership controlled by the spouse of the Reporting Person.  TTMM, LP owns 49.619% of the interests of WM Starlight Investments, LLC.</footnote>
        <footnote id="F6">These securities are held by WM Starlight Investments, LLC, a limited liability company.  The Reporting Person's spouse is the managing member and owner of 50.381% of the interests of WM Starlight Investments, LLC.  TTMM, LP is the owner of the remaining interests,</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrew A. Wiederhorn</signatureName>
        <signatureDate>2004-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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