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Articles Tagged With ‘Bankruptcy’




Former Estate Financial principal files bankruptcy

Written on 12 Dec, 2009 in Daily Briefs | One comment

Don Vaughn, the former owner of Estate Financial, Inc. (EFI) has filed for bankruptcy, is accused of defrauding investors through his hard money lending company, and is at risk of losing his contractor’s license for failing to pay a civil... (Continue reading)

UPDATE: Courts asking for portion of casino profits

Written on 14 Sep, 2009 in Uncovered SLO | One comment

By KAREN VELIE Federal bankruptcy court attorneys plan to ask for a portion of proceeds of a proposed Indian casino to be available to reimburse creditors of bankrupt North County developer Kelly Gearhart. In June, Ohio Federal Bankruptcy Trustee Harold A. Corzin... (Continue reading)

Police chief loses loaded gun

Written on 8 Sep, 2009 in Uncovered SLO | One comment

By KAREN VELIE The emerging and evolving story of how Paso Robles Police Chief Lisa Solomon had her loaded semi-automatic gun stolen from her car that she left unlocked in front of her home has left her red-faced about how it... (Continue reading)

Investor funds diverted to build go-cart track

Written on 24 Aug, 2009 in Uncovered SLO | One comment

By KAREN VELIE A North County developer financed a go-cart track at his Templeton home by having the asphalt contractor change the work address so it would be covered by a group of Real Property Lenders’ (RPL) project investors, according to... (Continue reading)

Hertel and Fowler court ordered to appear

Written on 7 Jun, 2009 in Uncovered SLO | One comment

By KAREN VELIE Following an emergency motion, a federal judge ordered R.W Hertel and Sons’ principles Ronald Hertel and Robert Fowler to appear in bankruptcy court or face possible arrest, according to the June 4 order. U.S. Bankruptcy Judge Robin Riblet signed... (Continue reading)

U.S. Marshals seize Hertel and Fowler’s yacht, guns, and ammunition

Written on 1 Jun, 2009 in Uncovered SLO | One comment

By KAREN VELIE Federal authorities seized bankrupt developers Ronald Hertel and Robert Fowler’s 2005 Bertram yacht including guns and ammunition, and a 1988 Broward yacht under purchase by Hertel earlier this year as part of an ongoing effort to recoup funds... (Continue reading)

Gearhart hiding assets

Written on 20 May, 2009 in Uncovered SLO | One comment

By KAREN VELIE Bankruptcy trustees have seized a collectable car and are looking into allegations ex-North county developer Kelly Gearhart and his wife, Tamara Lowe, have hidden assets during their high profile bankruptcy. Bankruptcy trustees seized a yellow 1935 Packard Gearhart and... (Continue reading)

Hertel and Fowler caught up in yet another scandal

Written on 5 Mar, 2009 in Uncovered SLO | 4 comments

By THE EDITORS Securities and Exchange Commission investigators are probing California Assemblywoman Diane Harkey (R-Orange County), her husband Dan, and his hard-money lending company, Point Center Financial, regarding the Harkey’s relationship with R.W. Hertel and Sons. The investigation is said to focus... (Continue reading)

Gearhart files bankruptcy

Written on 12 Feb, 2009 in Uncovered SLO | 2 comments

By KAREN VELIE Kelly Gearhart, a North County developer with ties to hard money lender Hurst Financial, has filed for Chapter 7 bankruptcy protection in Ohio. Gearhart and his wife, Tamara Lowe, filed the bankruptcy petition on Wednesday, stating $6.5 million in... (Continue reading)

EFI investor prospects dismal

Written on 28 Jan, 2009 in Uncovered SLO | 6 comments

By KAREN VELIE and DANIEL BLACKBURN Investors in both the Estate Financial Mortgage Fund (EFMF) and Estate Financial Inc (EFI) received gloomy reports from trustees regarding recouping investments through the bankruptcy court. The bad news was contained in a letter sent... (Continue reading)