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San Luis Obispo County developer hit with a $1.3 million judgment

November 2, 2025

John Belsher and Ryan Petetit-Wright

Clarification: Judkins accused Belsher and Petetit-Wright of fraudulently leasing out the building at 545 Higuera Street and then collecting more than $250,000 in rent. That claim was later dismissed as part of a settlement agreement.

PB Companies was initially the manager of Marsh-Higuera Mixed Use LLC, but continued to act as such after removal. 

By KAREN VELIE

In a scheme rife with fraud, San Luis Obispo attorney John Belsher and his partner Ryan Petetit-Wright allegedly swindled a partner through a double escrow. The partner, Taylor Judkins, filed a lawsuit, Belsher settled, and the court last month ordered Petetit-Wright to pay a $1,347,264 judgment, according to the Oct. 23 court order.

The lawsuit, filed in 2020 by Judkins’ attorney Jay Raftery Jr., accused Belsher and Petetit-Wright of fraud, misrepresentation, breach of fiduciary duty and breach of a promissory note. Belsher, Petetit-Wright and their PB Companies drew in multiple commercial lenders and private parties to invest in their projects, leading to a handful of lawsuits for alleged financial misdeeds.

In 2015, Belsher formed a company, Marsh-Higuera Mixed Use LLC, to purchase properties at 486 Marsh Street and 545 Higuera Street. While in escrow to purchase the two properties from Coast National Bank, Belsher and Petetit-Wright solicited Judkins to invest and become the financial partner in the limited liability company allegedly in escrow to purchase the properties from the bank for $4 million.

However, Belsher and Petetit-Wright had created two companies: Marsh-Higuera Mixed-Use LLC and Higuera/Coast LLC. Belsher and Petetit-Wright had misrepresented “that Marsh-Higuera Mixed Use LLC was purchasing the properties directly from Coast National Bank,” according to the lawsuit.

On July 31, 2015, Higuera/Coast LLC purchased the properties from Coast National Bank for $3.3 million and concurrently sold the properties to Marsh-Higuera Mixed Use LLC for $4 million.

In addition, Judkins had earlier accused Belsher and Petetit-Wright of fraudulently leasing out the building at 545 Higuera Street and then collecting more than $250,000 in rent. That claim was later dismissed as part of a settlement agreement, Raftery said.

Belsher formed Marsh-Higuera Mixed Use LLC with PB Companies as the manager in March 2015. Four months later, an operating agreement between Blesher and Judkins removed PB Companies as the manager. Without Judkins’ knowledge, PB Companies later signed amended escrow instructions without authority, Raftery said.

Despite having multiple bankruptcies, tax liens and lawsuits accusing the pair of fraud, for years Belsher and Petetit-Wright appeared to be enjoying the high life. They regularly rented private jets, attended national sports events and traveled overseas, while unable to pay investors.

FBI agents arrested Petetit-Wright on Oct. 30, 2023 on a three-count indictment charging him with conspiracy, falsification of records and obstruction of justice. Belsher, who has not been arrested, is listed as a co-conspirator, according to court records.

In Sept. 2023, Belsher and PB Companies settled with Judkins.

In Sept. 2024, Petetit-Wright admitted conspiring with Belsher and former San Luis Obispo County Supervisor Adam Hill to deprive local citizens of honest services through a pay-to-play scheme. Petetit-Wright pleaded guilty to one criminal count: conspiracy. He was sentenced to five years in prison that he is serving at the Federal Correctional Institution, Lompoc.

 


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Just sad that it took the investors 5+ years after filing their case to get justice.


47

Cal Coast News: 1


Tribune: 0


52

Yet another in a long list of crooks the Trib sided with and protected, usually against the best interests of their readers. Maybe that’s why their readership has dropped to almost nothing.


57

The Tribune cannot publish anything without Tom Fulks’ approval.


23

If it wasn’t for Karen’s diligent reporting these two Basturds would probably have gotten a way their swindling deeds. One has to wonder why Belsher is not alongside Petetit at Club Fed working on his pickleball game.


70

Belsher and Pettit-Wright by no means appear to be developers, they appear to be nothing more than unconscionable swindlers that have no issue preying on family and friends.


Wonder if Belsher (Michigan License#: P87563 Admitted June 21, 2024) under his duty of Candor is or was required to disclose to the Michigan Bar amongst other things the 3.6 million fraud judgment, bankruptcy filings, and matters concerning the federal corruption case that appears to be on-going.


63

Wake up Sleeping Beauty, developers are not builders and fraud is their stock in trade. Gary Grossman doesn’t know which end of the nail you hit, but he buys off politicians, builds crap, and does very well thank you very much.


38

I don’t like rumors, gossip or unfair allegations but I’m beginning to believe that Grossman had mastered the phrase: it’s not just who you know but how good a team player you are.


9

Well, if not, let’s hope that the message gets out far enough that someone picks it up and bumps him out of the Michigan law fraternity also.


32

He now has disciplinary charges filed by the California State Bar. If that results in his license being suspended or revoked, the license in Michigan will almost certainly be similarly suspended or revoked automatically.


14

Do not forget that when CalCoastNews and Karen were reporting on Kelly Gearhart way back when, some people (and the Tribune) thought it was much ado about nothing. Gearhart spent years in prison as a result of his criminal actions. Big names, big developers, big pols, all get the kid-glove treatment from editor Tarica and the puffers in his newsroom. But Velie? A watchdog for the public.


67

Give Kelly his due honors, Kelly Gearhart, The San Luis Obispo Tribune’s Man of the Year.


31

Yeah, and Velie sure doesn’t get the kid glove treatment! So strange. The one clean person reporting gets villainized and victimized by the Trib while the crooks get sweetheart treatment. But, oh yeah, that’s probably because the crooks advertise in the Trib.


34