SC 13D/A 1 wfsg.txt United States Securities and Exchange Commission Washington DC 20549 Schedule 13D/A Under the Securities and Exchange Act of 1934 (Amendment No. 4) Wilshire Financial Services Group Inc (Name of Issuer) Common Stock, Par Value $.01 Title of Class of Securities 971867205 (CUSIP Number) Howard Amster, 23811 Chagrin Blvd., suite 200 Beachwood Ohio 44122-5525, (216) 595-1047 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 25, 2002 (Date of Event Which Requires Filing of this Statement) If this filing person has previously filed a statement on Schedule 13G to report this acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b) (3) or (4), check the following box / /. NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however see the Notes) 1 Name of Reporting Person HOWARD AMSTER 2 If a member group a) / / b) /X/ 3 SEC Use only 4 Source of Funds PF 5 Check if Disclosure 6 Citizenship USA Number of Shares 7 Sole Voting 2,355,850 Beneficially Owned By Each 8 Shared Voting Reporting Person With 9 Sole Dispositive 2,355,850 10 Shared Dispositive 11 Aggregate Amount Beneficially owned 2,519,331 12 Check if Aggregate Amount (11) Excludes Certain Shares 13 Percent of Class Represented by amount in row (11) 12.8 % 14 Type of Reporting Person IN 1 Name of Reporting Person Amster Trading Company 2 If a member group a) / / b) /X/ 3 SEC Use only 4 Source of Funds WC 5 Check if Disclosure 6 Citizenship or Place of Organization USA Number of Shares 7 Sole Voting Beneficially Owned By Each 8 Shared Voting -0- Reporting Person With 9 Sole Dispositive 10 Shared Dispositive -0- 11 Aggregate Amount Beneficially owned -0- 12 Check if Aggregate Amount (11) Excludes Certain Shares 13 Percent of Class Represented by amount in row (11) -0- % 14 Type of Reporting Person CO 1 Name of Reporting Person Ramat Securities Ltd 2 If a member group a) / / b) /X/ 3 SEC Use only 4 Source of Funds WC 5 Check if Disclosure 6 Citizenship or Place of Organization USA Number of shares 7 Sole Voting 163,481 Beneficially Owned By Each 8 Shared Voting Reporting Person With 9 Sole Dispositive 163,481 10 Shared Dispositive 11 Aggregate Amount Beneficially owned 163,481 12 Check if Aggregate Amount (11) Excludes Certain Shares 13 Percent of Class Represented by amount in row (11) .8 % 14 Type of Reporting Person BD There are no changes to the Schedule 13D, as amended except as set forth in this fourth amendment. Item 4. Purpose of Transaction Amster Trading Company made a charitable gift of 254,034 shares to the Jewish Community Federation of Cleveland; Madax IX Foundation, its supporting foundation, a non-profit corporation as described in section 501(c)(3) of the Internal Revenue Code ("Foundation") and as a result, is no longer part of this reporting group. Ramat Securities Ltd. made a charitable gift of 80,000 shares to the "Foundation". Howard Amster and Ramat Securities Ltd. disclaim any affiliation with the "Foundation" and deny that the "Foundation" is a member of this group. Item 5. Interest in Securities of the Issuer (a)(b) The aggregate amount owned by the Reporting Persons after making the gifts as reported in Item 4 above is 1,525,581 shares or 9.4 % of the outstanding shares of the Issuer. Taking into consideration the debentures previously acquired by Mr. Amster that become convertible after 7/1/02 into 993,750 shares, the Reporting Persons holdings will increase to 2,519,331 shares or 12.8 % of the outstanding shares. Howard Amster in his individual retirement accounts owns 1,362,100 shares or 8.4 % of the outstanding shares of the Issuer. If Mr. Amster were to convert his debentures, the amount he owns would increase to 2,355,850 shares or 12.0 % of the outstanding shares of the Issuer. Amster Trading Company owns -0- shares or 0.0 % of the outstanding shares of the Issuer and is no longer a member of this reporting group. Ramat Securities Ltd owns 163,481 shares or 1.0 % of the outstanding shares of the Issuer (and if Mr. Amster were to convert his debentures .8 % of the outstanding shares of the Issuer). Signature. After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Date: June 27, 2002 Howard Amster Amster Trading Company By: Howard Amster Title: President Ramat Securities Ltd. By: David Zlatin Title: Principal