Estate Financial chiefs’ arraignments postponed

October 27, 2008
Karen Guth talks to investors while son Josh Yaguda listens, months before their arrests.

Karen Guth talks to investors while son Josh Yaguda listens, months before their arrests.

By THE EDITORS

San Luis Obispo Superior Court Judge Jac Crawford Monday agreed to continue the arraignment of Estate Financial Inc. principles Karen Guth and her son Joshua Yaguda on 26 felony charges to Nov. 21.

Irvine-based attorney Dyke Huish requested the delay to allow time to retain and brief a second defense attorney. Crawford also granted Guth and Yaguda access to discovery.

Bail remains at $5 million for each suspect. If either Guth or Yaguda try to post bail, a hearing will be held by district attorney officials to determine if money is tainted before bond can be accepted. This follows a separate motion filed by the district attorney’s deputies.

Huish suggested it would be very difficult to find unbiased jurors in this county but declined comment on plans to seek a change in venue.

“I intend to work closely with the district attorney’s office to come to a reasonable and fair conclusion to this case,” Huish added.

“We would oppose a venue change,” said Deputy District Attorney Steve VonDohlen.

Karen Guth gives investors her version of where their money went.

Karen Guth gives investors her version of where their money went.

Enticed by the promise of generous returns on property-secured investments, approximately 3,400 investors entrusted nest eggs with EFI. In July, EFI’s portfolio contained more than $317 million in monies owed to investors. Of that, only $21,000 remained unencumbered just a few months ago.

Guth and Yaguda were arrested Oct. 16 by a joint task force including agents from the state departments of Corporations and Real Estate, the district attorneys office, the IRS, and the FBI. Criminal charges include disseminating false information to investors; failure to inform investors when properties sold; and unlawful sales to out-of-state residents.

The issue, said Huish, is whether the pair planned to defraud investors, or if they simply conducted poor business practices.


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10 Comments

  1. ccn_debate says:

    Member Opinions:
    By: Harlow on 12/4/08
    Hey Templeton Pilots, I find it FRIGHTENING that people such as this have reproduced.

    One can only hope that any children of theirs will learn from watching their parents being hauled off and the genetics are not too strong to overide this.
    The apple does not fall far from the tree, as the saying goes
    By: Nameless on 11/4/08
    Observer

    Public records, my friend. Posted by the Bankruptcy Trustee, under Assets and Liabilities schedules. Requiered by the BC Court on a date certain.

    By: Observer on 11/4/08
    Interesting data, "Nameless." What documents were these figures from, and where did you get them? (You forgot to footnote your post.)
    By: Nameless on 11/3/08
    Templeton Pilots , Obama and Riley

    All of their expenses paid by EFI along with car payments, insurance, fuel, Travel & Entertainments. No breakdown as to the expense paid for number of their businesses.

    I think your sympathy is misplaced. Many of the investors don’t even bother to check on this site for being so dispirited and comments about how we just want Kand J suffer in the dungeons.

    Your compassion maybe well intended, but totally misplaced. Their operation was in trouble for some time and not only for mismanagement, but for raiding of investors funds. K and J had absolutely no regard for their investors and borrowers, so the results are in. As you can see from the numbers for the past twelve months they took. It shows how immodest they were when it came to rape the same people who trusted them. I definitely feel for Josh’s children because I have my own to feel sorry for. Unfortunately, their action caused immense pain and suffering for some time that can not be accounted with dollars.

    I wish them nothing less and nothing more than they’ve caused for so many. I am still too generous. In case you still feel sorry for them, please talk and visit the ones who are left behind in destitution. It will take more than just a pathetic face for any to put everything behind and forget (may forgive in the long run, but not forget).

    Not fast enough to replace their uniform of ORANGE and RED for the black and white stripe.

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