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SLO County developer facing money laundering and fraud charges

December 2, 2023

By KAREN VELIE

Federal prosecutors revealed plans this week to file additional charges of wire fraud, bank fraud and access device fraud against San Luis Obispo County developer Ryan Wright, according to a Nov. 27 declaration by Assistant U.S. Attorney Thomas Rybarczyk.

FBI agents arrested Wright, 37, formerly known as “Ryan Petetit,” on Oct. 30 on a three-count indictment charging him with conspiracy, falsification of records and obstruction of justice. He is currently being held without bail at the Los Angeles Metropolitan Detention Center.

Prosecutors plan to file a superseding indictment on Dec. 13 to add the additional charges of wire fraud, bank fraud and access device fraud. The additional charges will allege, among other things, that Wright diverted funds from investors and his business partner to pay criminal defense attorneys he hired regarding the federal investigation into the corruption and obstruction charges he is currently facing.

Wright and his partner and co-conspirator John Belsher’s business, PB Companies, allegedly paid nearly $100,000 in bribes and gifts to former SLO County Supervisor Adam Hill, who advocated for the company’s projects. Wright was arrested and held without bail amid a civil fraud trial because of concerns he would flee and continue to obstruct justice, according to court records.

John Belsher and Ryan Petetit-Wright

The lawsuit, filed by Jeff and Debora Chase in 2018, accuses Wright and Belsher of bilking the Chases out of more than $2 million they invested in three of the developers’ projects. The trial is ongoing with multiple pauses, some caused by the defendants’ frequent failures to follow court rules.

The civil trial is scheduled to resume on Dec. 7.

Wright filed a petition on Nov. 20 asking the court to review the order holding him without bail. However, the hearing on the petition was canceled after it was determined the Federal Public Defender would no longer represent Wright in the criminal case.

Prosecutors produced 16,529 pages of documents to Wright’s previous counsel. However, the government still has a substantial number of documents, “such as evidence seized from digital devices belonging to another individual,” to produce to Wright, according to the declaration.

Wright is due back in federal court for a status conference on Dec. 8 regarding his need to hire an attorney or elect to represent himself.

 


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Follow the money trail.


16

They say that an attorney who represents himself has a fool as a client. However, Belsher is very clever, he keeps representing his coconspirator who he is walking down the path to take the fall for it all. Way to go Karen on this expose.


I remember these issues and how cleverly Belsher and Petetit set up there ponzi scheme. However, none of this was possible without staff working for PB Companies complete complicity and participation in this scam. All of the staff at PB Companies were involved and as long as they were getting their share, why would they care that other people were being fleeced and financially destroyed.


Then throw on top of it, how local government officials and employees were involved in the scam. All you have to do is see who bought second homes, luxury cars and what not while shoving PB Companies projects through. Again, thank you Karen.


33

Sounds like co-conspirator Belsher is the canary in the cage singing to save his ass and sending his boy Petetit to the gallows.


22

Stack up the charges until they tell every single official who accepted their bribes, many officials, current and past, are worried that may happen.


38

Can’t we just lock these clowns up?


Ironic they are good friends with Adam Hill and Bruce Gibson, they say birds of a feather flock together.


38

There is due process in our country. Petitit is already locked up.


0

When are they going to lock up Belsher, as bad as Ryan is, Belsher is worse!!!


47

Belcher/belsher getting disbarred sooner than later would be a nice bonus


42