Linda Kennedy due back in court
August 7, 2014
Former Paso Robles lender Linda Ann Kennedy is due back in court on Sept. 9 to determine the amount of restitution she will be ordered to pay back to her victims.
Kennedy, 51, swindled more than 1,000 investors out of millions in a lending scheme involving hard money. In August 2007, when she closed the firm, the company held a $100 million real estate portfolio.
In 2009, Kennedy fled for Costa Rico where she stayed for two years before returning to the United States.
Last December, Superior Court Judge Barry T. LaBarbera sentenced Kennedy to a five-year stint in the San Luis Obispo County Jail. He also required Kennedy to pay full restitution to all victims in the case.
In June, the court appointed new council to represent Kennedy in the determination of restitution. If no agreement is reached about the amount she will be ordered to repay her victims before her Sept. 9 court date, a restitution hearing is scheduled to be set for Nov. 18.