Estate Financial of Atascadero (defunct)
Estate Financial Inc of Atascadero, principals Joshua Yaguda and Karen Guth.
Three former employees of now defunct Estate Financial Inc. (EFI) claim they witnessed fraudulent behavior while employed at the Paso Robles hard money lending firm.
On 7 Dec, 2009 San Luis Obispo Superior Court Judge Jac Crawford sentenced Estate Financial, Inc. principal Karen Guth to 12 years in prison and Joshua Yaguda to eight years for fraudulently selling securities without the proper licenses, lying to investors and stealing or destroying property worth $3.2 million. Guth and Yaguda pleaded guilty in October to 26 felony counts after Crawford offered a plea
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PDFNight Moves: EFI files fund Chapter 11
By KAREN VELIE and DANIEL BLACKBURN Estate Financial Inc. (EFI) principals Karen Guth and Joshua Yaguda placed EFI’s Mortgage Fund LLC into voluntary Chapter 11 bankruptcy with a July 1 appearance in Santa Barbara’s Central District of California United States Bankruptcy Court. Their action puts the brakes on a state court-ordered evaluation. During the past month, EFI officials have reportedly been spotted... (Continue Reading)
More state allegations heaped on EFI
The State Department of Real Estate (DRE) has filed accusations against hard money lender Estate Financial (EFI) of Paso Robles for eight causes of action that include “misrepresentations and false promises made to investors and acting fraudulently and dishonestly in making under-secured loans.” The accusations were detailed Friday on the state agency’s Web site.... (Continue Reading)
Update: EFI’s bankruptcy expectations
By KAREN VELIE Estate Financial Inc. (EFI) will remain in bankruptcy for at least the next few months and at the same time independent evaluator Hanno Powell will continue his audit, the Fresno attorney said earlier this week. A “complete evaluation” of EFI’s books was ordered during a June 16 San Luis Obispo Superior Court hearing. During that hearing, a group of... (Continue Reading)
EFI forced into Chapter 11
Creditors forced hard money lender Estate Financial Inc. (EFI) into Chapter 11 bankruptcy proceedings Wednesday in Santa Barbara’s Central District of California United States Bankruptcy Court.... (Continue Reading)
EFI evaluator seeking quality investor information
By DANIEL BLACKBURN and KAREN VELIE A Fresno attorney appointed earlier this month to widen the examination of troubled lender Estate Financial Inc. (EFI) is enlisting the help of UncoveredSLO.com’s readers. Independent evaluator Hanno Powell, an attorney with the firm of Powell and Pool, posted two messages June 21 on this Web site, seeking help from investors with specific knowledge of questionable... (Continue Reading)
Estate Financial evaluator appointed
San Luis Obispo Superior Court Judge Barry T. LaBarbera Monday initiated a complete evaluation of the books of Estate Financial Inc. (EFI) mortgage fund. LaBarbera appointed Hanno Powell -- an attorney from Fresno experienced in receiverships -- to look into EFI’s records unencumbered for 30 days.... (Continue Reading)
State regulators cancel EFI sales permits
By KAREN VELIE Estate Financial Corp. (EFI) of Paso Robles can no longer solicit nor accept investor money because the troubled lender’s state permit to do so has been revoked. Specifically, regulators from the California Department of Corporations (DOC) have stopped the firm from selling mortgage fund securities and part interest in real estate investments. The revocation follows on the heels of... (Continue Reading)
Cal Poly computer guru probe may be illegal
By DANIEL BLACKBURN and KAREN VELIE A reproachful e-mail besmirching a Southern California man sent to a popular San Luis Obispo County radio talk show host may spell big legal troubles for a Cal Poly Internet technician and the university. Don Carver used his Cal Poly e-mail address to launch a passionate defense of a financially troubled and controversial North County hard... (Continue Reading)
Quiescent county Web site stirring suspicions
By KAREN VELIE and DANIEL BLACKBURN A Web site maintained by San Luis Obispo County’s Clerk-Recorder’s office – which provides property deed transaction data and other public information and is routinely updated weekly -- has been dormant for 36 days. The site’s lack of relevance quickly became a cause of concern for some investors who have placed funds with a troubled Paso... (Continue Reading)
Following Three Bells Winery money trail helps explain why DA, FBI are interested in Estate
By KAREN VELIE and DANIEL BLACKBURN Angry investors wondering where their money went after funding Estate Financial of Paso Robles may be on the road to an eventual explanation. Whether that translates into returns for those who have put money into Estate is yet to be learned. What is known is that millions of investor dollars have apparently been misappropriated, misspent, or... (Continue Reading)
