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Posts Tagged ‘Gearhart’

City officials paved Gearhart’s path of destruction

Written on 3 Aug, 2009 in Uncovered SLO | 1 Comment

By KAREN VELIE As developer Kelly Gearhart worked to build more than 400 new homes in the Atascadero area, city inspectors and others were apparently looking the other way, allowing Gearhart to avoid paying city fees due to falsified and unfinished... (Continue reading)

Gearhart hiding assets

Written on 20 May, 2009 in Uncovered SLO | 1 Comment
Gearhart hiding assets

By KAREN VELIE Bankruptcy trustees have seized a collectable car and are looking into allegations ex-North county developer Kelly Gearhart and his wife, Tamara Lowe, have hidden assets during their high profile bankruptcy. Bankruptcy trustees seized a yellow 1935 Packard Gearhart and... (Continue reading)

Gearhart files bankruptcy

Written on 12 Feb, 2009 in Uncovered SLO | 2 Comments

By KAREN VELIE Kelly Gearhart, a North County developer with ties to hard money lender Hurst Financial, has filed for Chapter 7 bankruptcy protection in Ohio. Gearhart and his wife, Tamara Lowe, filed the bankruptcy petition on Wednesday, stating $6.5 million in... (Continue reading)

BULLETIN: Gearhart crashing, burning

Written on 16 Sep, 2008 in Uncovered SLO | 1 Comment

By THE EDITORS Attorneys for North County developer Kelly Gearhart, the darling of Atascadero city officials, hard-money lenders, and local banks, encountered Judge Charles S. Crandall Tuesday morning. The San Luis Obispo County Superior Court jurist took position and control from... (Continue reading)

Bank’s own appraisal questions Gearhart loan

Written on 1 Jul, 2008 in Uncovered SLO | 7 Comments

By KAREN VELIE and DANIEL BLACKBURN A million-dollar loan from Heritage Oaks Bank to North County developer Kelly Gearhart earlier this year was based on “erroneous” and questionable claims, according to the bank’s own appraisal. That appraisal was not received by bank... (Continue reading)

Banks on thin ice after risky loans to developer

Written on 17 May, 2008 in Uncovered SLO | 29 Comments

By KAREN VELIE and DANIEL BLACKBURN Bank loans which appear inadequately secured made to a well known North County developer -- as well as an accompanying tangled web of loan transfers -- may have created significant problems for some San Luis... (Continue reading)

Fraud lawsuit filed against Gearhart, Hurst

Written on 6 May, 2008 in Uncovered SLO | 40 Comments

By KAREN VELIE and DANIEL BLACKBURN Local investors are alleging they were bilked out of millions by Hurst Financial and developer Kelly Gearhart. David Rios and Murray Powell filed an 11-count lawsuit Tuesday in San Luis Obispo County Superior Court. Allegations include... (Continue reading)

CORRECTION

Written on 1 May, 2008 in Uncovered SLO | 2 Comments

In an April 29 story about Paso Robles’ Vista del Hombre project, UncoveredSLO.com reported incorrectly that “Hurst has not foreclosed on Vista del Hombre, despite its contractual promise to protect investors if developers are delinquent on their agreements for at... (Continue reading)

COMMENTARY: Gearhart’s museum offer mystifying

Written on 23 Apr, 2008 in Uncovered SLO | 6 Comments

By DANIEL BLACKBURN and KAREN VELIE Generosity occurs for very few reasons. Kelly Gearhart, a North County property developer known for his altruism, has donated space to the Atascadero Historical Society for its museum. Gearhart wants to let the society house its... (Continue reading)