San Luis Obispo police arrest man for loan fraud

March 3, 2022


San Luis Obispo police officers arrested a 27-year old man from Bakersfield on Thursday for attempting to commit loan fraud.

SESLOC Federal Credit Union employees contacted the police department on Feb. 23 because people were applying for personal loans with fictitious and altered documents. Officers then set up an operation at the credit union’s Broad Street location.

On March 3, Gary Nelson applied for a loan and signed documentation under false pretenses, police said.

Officers arrested Nelson for theft and fraud under false pretense and booked him into the San Luis Obispo County Jail. He has since been released.

The investigation is on-going.

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Did Kelly Gearhart change his name?

With all the money Gearhart stole and hid away he doesn’t need to try to steal anymore, but I suppose I wouldn’t put it past him to try.

Did you?