Oceano manager under fire for operating suspended corporation
January 15, 2013
Even though the Oceano Community Service’s District manager’s privately owned corporation was suspended in early 2009, he continued operating his lending company, according to his financial disclosures.
On Tom Geaslen’s Form 700, he claims his company the Titan Lending Corporation did between $10,000 and $100,000 in business in 2010.
However, California law requires a suspended company owner to close its business and stop all business related activities immediately. It is illegal to provide false information on a Form 700 or to continue to run a suspended corporation.
When Oceano district board members selected Geaslen to serve as the district’s interim manager, in June 2011, they noted his more than 30 years of business experience. In a letter presented by Geaslen, he claimed to be the owner of Titan Lending, a company he said offered lending options for businesses. He did not disclose the state ordered suspension.
In April 2012, the district board selected Geaslen to serve as the district’s manager. He was required to file a Form 700 within 30 days of taking office or face fines of up to $10 per day.
Nevertheless, it was more than 90 days later, following three letters from San Luis Obispo County Clerk Recorder Julie Rodewald threatening fines, before Geaslen complied and filed his Form 700.
In a July 6, 2012 letter from Geaslen to Rodewald, he asks the clerk to waive the penalties because he was unable to file on time because of multiple attacks.
“I did not file in time due to constant unwarranted outside attacks on the OCSD and me personally,” Geaslen says in the letter. “These irrational and relentless attacks put my decision on continuation with the OCSD in doubt. The uncertainty alone questioned the need to file had I made the decision to terminate my contractual relationship.”
Rodewald agreed to waive the late fees. In mid-2012, Geaslen reported his lending company, the Titan Lending Corporation, as being in dissolution.
Last week, a complaint against Geaslen was filed with the Fair Political Practices Commission. Geaslin did not respond to requests for comment.