Articles Tagged With ‘Estate Financial Inc.’

EFI financial battle hints at new suspects

By KAREN VELIE A third figure emerged as a possible suspect in fraud precipitating the collapse of hard money lender Estate Financial Inc. (EFI) during yesterday's courtroom squabble over the remains of the once rich and influential entity. San Luis Obispo County... (Continue reading)

Gold for some: EFI trustees bill estate $4.5 million

By KAREN VELIE While most people touched by the Estate Financial Inc. (EFI) debacle have been monetarily devastated, a select few are in line to do quite well. Trustees and their special attorneys have collected, or are requesting, compensation of $4.5... (Continue reading)

Picking at bones of EFI: Lawyers wrangling

By KAREN VELIE During the latest battle over assets of failed Estate Financial Inc. (EFI) , attorneys for trustees, former co-owner Charlie Applebaum, Joshua Yaguda’s wife, and Heritage Oaks bank argued their clients alleged claims at an asset hearing on Friday. San... (Continue reading)

EFI victims question attorney’s actions

By KAREN VELIE and DANIEL BLACKBURN An attorney with a prominent San Luis Obispo law firm who injected himself into the ongoing hard money lending scandal has assembled a group of investor clients with apparently competing interests. Roger Frederickson of the Sinsheimer... (Continue reading)

Guth, Yaguda still stewing; more arrests hinted

By KAREN VELIE Prosecutors and defense attorneys today asked a judge to postpone arraignment and bail hearing for Estate Financial Inc. principles Karen Guth and Joshua Yaguda for the fourth time. San Luis Obispo Superior Court Judge Charles Crawford agreed to... (Continue reading)

EFI investor prospects dismal

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)

Heritage Oaks Bank files big foreclosures

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?

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)

Bank dubbed co-conspirator

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)

Estate Financial attorneys blame market downturn

By KAREN VELIE Following a fourth bail hearing and arraignment continuation, Joshua Yaguda’s attorney pointed at the downturn in the market as the catalyst for the financial ruin of Estate Financial inc. (EFI), on Monday morning. “The market shifted and changed,” Yaguda’s... (Continue reading)