Item 8.01:  Other Events

August 18, 2008 – Vestin Realty Mortgage II, Inc., (the “Company”) through its Manager, Vestin Mortgage, Inc., issued a press release announcing that a special committee of the Company’s Board of Directors, consisting solely of the independent directors, authorized the Company to make repurchases of the Company's common stock pursuant to the Repurchase Program that do not comply with all of the requirements of the safe harbor provided by SEC Rule 10b-18.  The Company will implement measures that are designed to prevent its repurchases from having a manipulative effect upon the price of its common stock.  A copy of the press release is furnished as Exhibit 99.1 to this report.


Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.
 
Description
 


 
 
 


SIGNATURES

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.


   
VESTIN REALTY MORTGAGE II, INC.
     
 
By
Vestin Mortgage, Inc., its sole manager
     
     
Date:  August 19, 2008
By
/s/ Rocio Revollo
   
Rocio Revollo
   
Chief Financial Officer