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Grover Beach man arrested for fraud

May 6, 2013
Al Moriarty

Al Moriarty

A 79-year-old Grover Beach man was arrested in Washington State under a fugitive from another state charge on Sunday. [Tribune]

Al Moriarty, former owner of Moriarty Enterprises, is being held without bail at the Kitsap County Jail. Former investors have filed 19 separate law suits which claim Moriarty committed fraud in his business dealings.

On May 2, officials with the District Attorney’s office filed a felony arrest warrant in San Luis Obispo County Superior Court for eight charges including securities fraud and scheming to defraud.

In December, Moriarty moved to Washington, where he owns a home. He then filed for bankruptcy, owing more than $22 million to creditors and investors.

Moriarty waved extradition and will be transported to the San Luis Obispo County Jail. He is being held lieu of $5 million bail.

 


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My question is: How many gold Rolex’s, new cars, night’s out buying the best wine, house purchases, and other items can someone spend $22 million on. I’m so poor I can’t even think of what to buy with

all that money. Poor guy ran out. Must have bought a bankrupt state. Maybe he bought lottery tickets and of course lost.


God Bless


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I went to Al Moriarty’s office a couple years ago to speak to one of his “investment clients” about insurance. What I saw there was an entire staff. We used his conference room to conduct our business and, when leaving, one gentleman who worked there made a mad dash back into the conference room, pushing in the chairs “just right” as Mr. Moriarty insisted the chairs around the table were pushed in to his satisfaction. It was very clear Al Moriarty was KING.

I never met or spoke to Mr. Moriarty, but was introduced to his many staff members. His “business partner” Geoff Treat held an office in Mr. Moriarty’s building and boasted about his extensive cigar collection and property in Panama….


I hope CCN digs further into this story.


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Next time someone tells you that they can guarantee a safe return or a high yield… think about it first.


Life is full of chances … try making safer ones.


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This is a matter of FRAUD, Roger.


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Anything like the government guaranting us that gun background checks will make us safer?


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This guy should hire Gearharts attorney if he wants to stay out of jail, just saying…..


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But his billboard advertisements were so impressive! Plus he shared some of the loot with local charities. (Will the charities have to give back any of the loot?)


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And Kelly Gearhart is STILL walking around even though indited! Jay Miller keeps getting his sentencing postponed, you wonder if these predators will ever do time!


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Makes you wonder who is connected with them There may be a cleansing of Atascadero after they scoop everyone up. In the long run this could turn out to be good as some of the corruption within Atascadero may get cleaned out.


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Also, in today’s TT story neither Gearhart nor Hurst Financial (father and daughter) were mentioned even though they ripped investors off for over 100 million! The Feds better not blow this one. Many lives have been devastated by these criminals.


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THIS is the sort of thing you should be after. How did the Trib get it first? I’ve seen a few seniors taken in by these shysters. Lucky for them the GOP never privatized their Social Security. It is all some of them have left. And, yes it is $22 million. Sensation before accuracy? Next time cut and paste. http://www.sanluisobispo.com/2013/05/06/2497727/al-moriarty-arrested-fraud-jail.html


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the democRATS waste that every few minutes on more worthless guberment programs.


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Only 2 million, pffffffffft. By the time our county powers that be wrap this up, It will cost the taxpayers more than that to lock him up. The court appointed trustees will pocket whatever is left while the DA allows whatever assets he has to be sold off cheap to some crony. As for the investors, this is SLO county, kiss the money good bye.


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Make him work it off. For the rest of his life.


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thats 22 Million


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