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Uncovered SLO


Heritage Oaks Bank files big foreclosures

Written on 17 Jan, 2009 in Uncovered SLO | One comment

By KAREN VELIE and DANIEL BLACKBURN Heritage Oaks Bank has filed foreclosure notices against developer Kelly Gearhart’s Vista Del Hombre project, as well as Karen Guth and Joshua Yaguda’s Pasolivio Olive Ranch. Bank officials did so despite a state move on all... (Continue reading)

ESTATE FINANCIAL UPDATE: Conflicts of interest?

Written on 11 Jan, 2009 in Uncovered SLO | 11 comments

By KAREN VELIE Several key players in a hard money lender’s federal bankruptcy proceedings have apparent conflicts of interest, a situation which may further complicate investors’ efforts to recover hundreds of millions of dollars in lost assets. Trustees appointed by the Santa... (Continue reading)

BULLETIN: $8 million claim hits Paso water plans

Written on 9 Jan, 2009 in Uncovered SLO | One comment

A group of North County residents has filed a claim against the city of Paso Robles to recover $8 million in water and sewer fees they say has been improperly levied against property owners and ratepayers for the past six... (Continue reading)

Another county man faces investment charges

Written on 7 Jan, 2009 in Uncovered SLO | 3 comments

By DANIEL BLACKBURN A Los Osos man is in county jail tonight following his arrest on eight felony charges related to a Nevada-based investment company he owns. Leonard Adolph Delk, 80, becomes the latest in a string of Central Coast money managers... (Continue reading)

Big-money frauds top our 2008 investigations

Written on 31 Dec, 2008 in Uncovered SLO | 4 comments

By THE EDITORS A scandalous stack of brazen fiscal rip-offs and obscene financial schemes that today imperil the very economic stability of San Luis Obispo County is the most important news story of 2008 – and readers learned of them first... (Continue reading)

DUMPSTER CHRONICLES: Web of deceit

Written on 22 Dec, 2008 in Uncovered SLO | 8 comments

(EDITORS‘ NOTE: For months, a concerned investor sifted through Hurst Financial Inc.’s trash, tirelessly collecting eight bags of “Post-it” notes, hand-written letters, and typed documents from the imploding lending company. The investor then shared that trash with us. Part I... (Continue reading)

Cal Poly Saudi deal: Dueling contracts

Written on 17 Dec, 2008 in Uncovered SLO | 2 comments

By KAREN VELIE and DANIEL BLACKBURN Deal-making with the Saudis is proving plenty problematic for Cal Poly officials. Efforts to ink what has become a contentious and controversial plan linking the CPSU Engineering College with Jubial University College (JUC) hit another snag... (Continue reading)

Evidence keepers scrutinized by Grand Jury

Written on 11 Dec, 2008 in Uncovered SLO | 3 comments

By DANIEL BLACKBURN and KAREN VELIE A San Luis Obispo County Grand Jury is probing allegations of sloppy evidence protection by law enforcement and reviewing procedures currently being used by the Sheriff’s Department to protect evidentiary integrity. Sources with detailed knowledge of... (Continue reading)

Santa Margarita Ranch property on auction block

Written on 8 Dec, 2008 in Uncovered SLO | 5 comments

By KAREN VELIE A thousand-acre parcel of the controversial Santa Margarita Ranch, owned by developer Ronald Hertel, is in default and will be sold at auction December 30. Also on the block, this one slated for December 22, is a Pismo Beach... (Continue reading)

Bank dubbed co-conspirator

Written on 5 Dec, 2008 in Uncovered SLO | 2 comments

By KAREN VELIE and DANIEL BLACKBURN Estate Financial Inc. (EFI) creditor Ron Cooper said he plans to identify Heritage Oaks Bank as a co-conspirator with EFI principals Karen Guth and Joshua Yaguda in a lawsuit to be filed later this month. Heritage... (Continue reading)