Front Page  »  

Estate Financial investors have chance to claim assets

October 26, 2008

By KAREN VELIE

Estate Financial Inc. investors have just 30 days to file any claim to assets belonging to EFI principals Karen Guth and her son Joshua Yaguda, according to a financial notice posted by the San Luis Obispo District Attorney’s Office Oct. 24. “

“The property and assets subject to the above described proceedings includes all property and assets in the control of Guth and/or Yaguda, or which has been transferred by Guth and/or Yaguda to any third party subsequent to the commission of any criminal act alleged pursuant to Penal Codes section 186.11(a),” the notice reads.

Guth and Yaguda were arrested Oct. 16 on 26 felony charges 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. A white-collar crime enhancement places the pair’s personal belongings, property, business holdings, bank accounts, vehicles, and other items are under court jurisdiction.

Assets include bank accounts at Heritage Oaks Bank and Rabobank; homes in Cayucos and Paso Robles; a pair of gas stations; the Pasolivo olive oil ranch; a Jaguar convertible; the Three Bells Winery; and a multitude of limited liability corporations.

Claimants must serve a verified copy of their claim at the San Luis Obispo County District Attorney’s Office, County Government Center, Room 450, San Luis Obispo, CA 93408. “Failure to file a verified claim stating an interest in the property or assets with the Superior Court of the County of San Luis Obispo and also the District Attorney’s Office will result in a waiver of any interest in the property without further hearing,” according to the notice.

Guth and Yaduda are accused of swindling more than 3,400 investors, primarily seniors, out of millions of dollars. They are scheduled to be arraigned Monday at 8:30 a.m. in San Luis Obispo County Superior Court Department 7.

Tags:None


Loading...
Subjects:
Related:


1 Comment
Inline Feedbacks
View all comments

Member Opinions:

By: James on 10/29/08

I think it very sad that Caren and Josh were completly motivated by greed that they were willing to destroy the lives of people who have worked hard all their lives and many depended on them to live in econonmic dignity in their later years. Outside of murdering a person outright I cannot think of any crime more heinous than what they have done. How can they live with themselves?

By: Nameless on 10/27/08

I am heart broken

By: Jim on 10/27/08

I just received the following email:

"Karen Guth and Joshua Yaguda, the two principals behind real estate lender Estate Financial Inc., were in Superior Court today to make their pleadings before 26 counts of felony.

However, after morning discussions between defense attorneys and the prosecution and an early afternoon conference between the lawyers and Judge Jac Crawford in his chambers, the judge ruled that arraignment proceedings be postponed until Nov. 21.


In the meantime, Guth and Yaguda will remain behind bars with all of their assets frozen and bail set at $5 million apiece.


Suspected of engineering a massive fraud involving hundreds of investors and tens of millions of dollars, Guth and Yaguda have been in custody at County Jail since their arrest on Oct. 16. Investigators allege the crimes began as early as October 2002 and exceed $3.2 million".


By: Nameless on 10/27/08

NO bail reduction? Postponed till Novenber 21?

I think investors should collect the needed funds to bail them out! Provided funds are clean. How can anyone leave them rot? No heart?

By: Paso_Guy on 10/27/08

Let me take a stab at it…..the investors have already recieved (by mail from the BK court) claim forms to be filed against EFI… it was explained at the big meeting back on the 7th of Oct, about when and how to amend the forms to fit the EFI BK need.


Now here comes this acticle and it has no doubt confused a lot of people. Do we file both? Just one? Which one?


I feel Joanna has it right.

By: George on 10/27/08

Caps lock day was last week BCP.( Obama: misleading how?

By: Black_Copter_Pilot on 10/27/08

THAT MUST BE ONE OR MANY REASONS THIS IS GETTING NO PLAY

By: Obama on 10/27/08

This article is misleading.

By: JorgeEstrada on 10/27/08

I think the government should pay everyone back minus the loss in valuation, take possession of all holdings then force sale all holings in 2010. The smart business managers can go to a Mexican prison as investors in cuting prison costs.

By: Joanna on 10/26/08

Careful everyone! I'm not an expert but I'm pretty sure you have to have a legal claim such as a judgment or lien to be eligible. Being an investor without any prior legal action most likely will not let you take a stake in these assets. Does anyone know more?


0