San Luis Obispo developer arrested for fraud and theft

June 25, 2020

Jeremy Pemberton

A local developer accused of securities fraud, financial elder abuse, and grand theft related to his attempt to garner investors for a proposed bowling alley and bar in San Luis Obispo was arrested on Tuesday, almost three months after a judge issued a warrant for his arrest.

Jeremy Pemberton is accused of fraudulently obtaining in excess of $500,000 from one victim and more than $200,000 from another. Pemberton allegedly misrepresented the amount of financing he had received from other investors and failed to disclose a default on the lease for 1144 Chorro Street in San Luis Obispo.

Pemberton is facing charges of two counts of securities fraud, one count of financial elder abuse, and two counts of grand theft. If convicted of all charges, Pemberton faces a prison sentence of up 16 years, four months in jail.

In 2014, Jeremy Pemberton and his twin brothers Joshua Pemberton began to solicit investors in their plan to turn the site of the San Luis Obispo Sports Authority into a bowling alley, restaurant and performance site for live music. Their goal was to open in late 2015.

At the time, San Luis Obispo city officials voted in favor of the brother’s plans even though they had been accused of fraud regarding similar proposals in Santa Barbara County. The twins’ prior business deals resulted in claims of fraud and a bankruptcy with $1.4 million in unpaid wages, debts and charity pledges that were never fulfilled.

Pemberton’s arraignment hearing is scheduled for July 8 at the San Luis Obispo County Superior Court.

Inline Feedbacks
View all comments

Taking advantage of old people is ongoing and great when someone goes to jail. There should be a record kept for this category of offenders just like they do for sex offenders that is viewable by all.

Where did they find him?

About time! But he’ll be out shortly to fleece more people. It’s a nonviolent, nonsexual, ergo non-“serious” crime. And we sure wouldn’t want him to be expose to the coronavirus in jail!

Was it a “hate” crime? I don’t know who makes that decision, but maybe we should leave it up to the victims.

He really did remain at large for quite some time. But you know, some people pull it off and never get taken in. The Trump family notoriously built their massive wealth by scams like this and government grants for improvements to their buildings that then were never even attempted. But you have to stay current with your payoffs. and keep the people in power who will facilitate your awards and constantly look the other way, for a piece of the action. Play it right and it will take you all the way to the top of the food chain, apparently. This guy just didn’t keep up his connections properly oiled.

Lock him up and throw away the key. The same for any other’s involved with this swindler. I hope the court orders everything he and the other’s have, be dissolved financially, and awarded to those they stole from. At times, I feel like really having a chance to get my hands on people like that.

Coming up next, Grossman, Belsher, Petitit/Wright, and Adam Hill.

Boy sure took long enough 6 years from the beginning of the SLO county crimes that we know of and 6 or more after the crimes in Santa Barbara county .Good to see this finally occur .Will he rollover and turn state witness on his brother to save himself ? Family get togethers will never be the same again

Put this guy in a government job pronto! I’m thinking public works or code enforcement. His skills are needed during this time of plunging revenue and obscenely low taxes.

He could swindle the city or county right back into prosperity.

Love your sarcasm, I hope:)

I was thinking he should run for Adam Hill’s Supervisor seat, trading one crook for another!!!

No real need to “run” for the seat. He could probably get AH to sell the seat to him. By the way, I think I also love Doc’s sarcasm, I hope:)

Sarcasm is the most efficient way to communicate complex thoughts and ideas that force the recipient to think….