Grover Beach man arrested for fraud
May 6, 2013
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.