CalCoastNews Series

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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UPDATE: Estate Financial investors fighting back

Investors, builders and attorneys squeezed into a large, sunny conference room at a beautiful, ocean-side hotel earlier this week to talk about something most found unpleasant: How they were going to recoup millions of unaccounted-for dollars placed with Paso Robles lender Estate Financial. (See previous article, “Hard money lending schemes creating fiscal chaos, devastating SLO County investors," March 14 on... (Continue Reading)

Hard money lending schemes creating fiscal chaos, devastating SLO County investors

By KAREN VELIE and DANIEL BLACKBURN A number of San Luis Obispo County investment firms have allegedly participated in schemes that may have already cost local investors more than $500 million, setting the stage for a colossal fiscal collapse unrivaled in this state’s history. Utilizing a variety of hard money lending ploys and inappropriate management practices, the firms in question have created... (Continue Reading)