Nipomo man accused of embezzling $50 million

October 1, 2012

By KAREN VELIE

A Nipomo business owner is accused of forging numerous loan documents as part of a more than $50 million fraud scheme he allegedly implemented against three local banks, business associates and several members of his family, sources said.

While under a federal investigation, Mark Moore admitted that he forged loan documents while socializing with bank employees who failed to validate signatures, documents say. He blames bank employees for letting their guard down. Moore contends that because he was the son-in-law of a bank board member, employees allowed him to perpetuate the theft.

Moore is accused of stealing from his in laws, his children’s college fund, his mother, a Riverside investor and local branches of Farm Credit West, Bank of America and Rabobank. He faces charges of bank fraud, mail fraud, embezzlement and forgery.

In the late 90s, Moore worked for Farm Credit West in Arroyo Grande. He then married founding board member Michael Cavaletto’s daughter, left the bank, started his own agricultural chemical company, and began dining regularly with a loan officer at the bank.

In early 2000, Moore began managing the Cavaletto family trust. Cavaletto is an avocado grower and the co-owner of C&M Nursery in Nipomo.

It was at this time Moore started applying for loans in Cavaletto’s name, without informing Cavaletto, according to documents obtained by CCN.

In late 2002, Moore first applied for a loan at Bank of America. In the documents, he notes his surprise that no one at Bank of America bothered to validate signatures. He then allegedly began procuring loans in his mother’s name and his wife’s name.

From 2003 through 2007, he switched some of his accounts to Mid-State Bank and Trust (now Rabobank). In the beginning, Moore was concerned Mid-State Bank and Trust officials would question him about the loans but, as in the past, no one did.

Moore blames a total system failure, along with bank employees who were easily manipulated by compliments, for his decade long history of embezzlement, according to records obtained by CCN.

Moore, Cavalleto, bank officials and Assistant U.S. Attorney Paul Stern either refused, or said they were not permitted, to comment on the case.

 


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97point6

Day late and a dollar short on this story. This Moore’s story first ran back in March in New Times. Seven months later you float it again?


noway

Yes this is old news, like I said tried, convicted and awaiting sentencing in LA court.


Crigley

Wrong and wrong. Just to set the record straight: John Mark Moore was accused–not convicted–of sexual battery in a civil lawsuit (http://www.newtimesslo.com/cover/7471/the-curious-case-of-anyck-and-the-fertilizer-factory/). And in March, it was alleged that he had forged names on several loan documents, including those bearing his mother’s name, and that he was under investigation by the FBI (http://www.newtimesslo.com/news/7542/ghostwriter/).


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noway

well thank heavens he was ONLY convicted of the rape? Are you trying to say he was found guilty of rape and is walking the streets a free man? Isn’t it more likely he was convicted of the white collar crime and walking the streets awaiting sentencing? Irregardless if its theft, fraud or rape what he has done to his family is disgusting and they will be left behind to pick up the pieces of his mistakes while he goes to jail….or leaves the country.


zaphod
justapostingcat

Regardless, CCN is spot on as usual…..The New Times, not so much.


thecat


reality man

He has never been convicted of rape, a gal with a history accused him of raping her repeatedly for a number of months. How many times does a girl get raped before she does something about it? It’s not like she was in danger, or a young girl, or easily tricked – she was a successful seasoned entrepreneur, very capable of dealing with situations.


Also, he was paying her $25,000 a month salary, but she agreed to share a hotel room with him because he couldn’t afford two rooms, sorry her story does not add up, even a bit.


This leads me to wonder how much of the rest of these accusations from his family are also embellished.


Keri P

really? sounds like a planted post supporting this crook


centralcoastcoyote

How dare you talk like that on here!!!


The Gimlet Eye

He isn’t doing anything that the banksters at the FED aren’t doing.


HarryMalone

He should get a reduced sentence and a medal for taking money from the blood sucking Bank of America.


MaryMalone

The taxpayers pick up the tab for the investigation and taking him to court. The legal, and other costs, B of A will pile up will be paid by B of A customers in the form of increased charges and users fees.


I’m all of paybacks, but not when it is, ultimately, the taxpayers and customers who end up paying for it.


panflash

I don’t know what all the fuss is about here. Seems that Mark Moore’s biggest mistake was choosing a career in the private sector and committing those acts there.

Hell, if he had gone into government and politics and done things like this he’d probably be Secretary of the Treasury or Chairman of the Federal Reserve Board by now- maybe even President.


Randy Sheila

Yeah, that’s right, stupid government…wait, what were we talking about?


Nancimeek
The Gimlet Eye

Yes. It’s called “fluoride.”


Nancimeek

More like steal from innocent people and get a “FREE RIDE” not Flou RIDE!


centralcoastcoyote

Wow a post without grigger named WTF happened


Nancimeek

Dont have to always post his name Everyone who posts here already knows what he did


Slowerfaster

WOW !


I thought General Jack D. Ripper blew his brains out !


How’re your ‘precious bodily fluids’ ?


SuperDave

The most pathetic defense ever offered. “They should have stopped me!” This is to show he is not all there… Lawyer inspired, and lawyer approved.


MaryMalone

Like the Oceano wastewater treatment plant massive fraud, this is what happens when organizations and institutions operate by cronyism and back-patting good-‘ol-boy cabal favoritism.


That this occurred in Nipomo should be of no surprise to anyone. Cronyism and the good-‘old-boy cabal favoritism system is how Nipomo is run, from the top down.


It should be of no surprise that this financial fraud binge occurred in Nipomo. It is this climate of business deals decided by cronyism, and unchallenged approach to managing public agencies, organizations and financial companies, that allows The Wallace Group to continue to get lucrative contracts from the Nipomo CSD. It also victimizes the residents and customers to be ultimately stuck with the cost of the stolen funds, as well as the legal fees associated with defending the perps who were involved in the fraud.


As the saying goes, “When you lie down with dogs, you get up with fleas” fits this scandal perfectly. The horrifying part of this $50million fraud scheme is that institutions like MidState Bank, B of A and Rabobank didn’t even bother to ascertain the identity of their business partners before they jumped into bed with him.


noway

He has already gone to trial, been convicted and is awaiting sentencing.


BeenThereDoneThat

I love that the guy says it was the banks fault. Yes they failed to check but they didn’t make you do it in the first place.


It’s like the old saying I always heard as a kid, “the devil made me do it.” In this dumb idiots case the banks made me do it. Give him five extra years just for his B.S. excuse. Amazing.


MaryMalone

I agree, Moore’s finger-pointing at the institutions and people from who he fraudulently obtained funds is such an obvious attempt to shift blame that it is almost insulting. Maybe the banks, Cavaletto and Moore’s wife and mother are culpable for lack of oversight, but clearly Moore is at fault for committing the crimes.


The thing we have to remember, however, is this: if Moore was able to use cronyism to commit such massive fraud, how many others have also been able to profit from the lack of oversight of the financial institutions, Cavaletto, and Moore’s family members?


It will be interesting to see what a full Rabobank audit will turn up. This cannot be an isolated incident.


Cicero

Cal Coast News: Great reporting that reveals news instead of waiting for some spin doctor to spoon feed the reports. Keep up the good work Cal Coast News team.


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