Josh Yaguda off probation
May 23, 2013
After spending three years and four months of an eight year sentence, Joshua Yaguda, 43, was released under San Luis Obispo County Probation supervision on Feb. 28, 2012. Because he committeed no further violations while on probation, he was released from probation after one year by statute.
San Luis Obispo Superior Court Judge Jac Crawford sentenced Estate Financial, Inc. principal Yaguda to eight years and his mother Karen Guth to 12 years on Dec. 7, 2009. The court credited Yaguda with time served in San Luis Obispo County Jail following his Oct. 16, 2008 arrest.
Yaguda and Guth plead guilty to fraudulently selling securities without the proper licenses, lying to investors, and stealing or destroying property worth $3.2 million.
Even so, EFI’s portfolio contained more than $317 million in monies owed to investors when the company filed bankruptcy in 2008. Of that, only $21,000 was held free and clear.
Guth and Yaguda illegally used investor monies contracted to fund construction projects to fund other businesses they owned, to pay investors for non-related projects, and to cover operating expenses.
The pair’s fraudulent practices were the subject of a lengthy series of articles by CalCoastNews, which eventually resulted in formation of a multi-agency task force and an effective investigation and prosecution of EFI.
Guth is slated to be released in 2014. Even so, a local property owner said he was contacted a year ago and asked if he would provide a rental for Guth who could have been released at that time if she had secured housing.