Articles Tagged With ‘Hard Money Lenders’

Linda Kennedy due back in court

Former Paso Robles lender Linda Ann Kennedy is due back in court on Sept. 9 to determine the amount of restitution she will be ordered to pay back to her victims. Kennedy, 51, swindled more than 1,000 investors out of... (Continue reading)

Gearhart properties to be auctioned

By KAREN VELIE Three of former north county developer Kelly Gearhart’s properties will be sold at auction in October including the Paso Robles golf course property known as Vista del Hombre. A New York firm will hold the auction on... (Continue reading)

Hard money lender sentenced to five years

Heritage Lending’s former president Candy Wells was sentenced on Thursday to five years in prison for fraudulent practices in the offer and sale of securities. Wells plead no contest in August to five counts of securities fraud. After listening to... (Continue reading)

Heritage Lending President’s trial starts in August

Heritage Lending former president Candy Wells’ trial is slated to begin August 27, while her husband has pled no contest. Law enforcement officers arrested Candy Wells and her husband Ronald Wells in March. Candy Wells is accused of fraudulent practices... (Continue reading)

Paso Robles lenders arrested on multiple fraud charges

By KAREN VELIE Heritage Lending principals Candy Wells and her husband Ronald Wells were arrested Tuesday on seven felony charges. The court has set their bail at $2.5 million each. Prosecutors from the San Luis Obispo County District Attorney’s office... (Continue reading)

CalCoastNews’ top stories of 2009

From government employees abusing the public trust to lending schemes that devastating investors, CalCoastNews readers were the first to get the news about many of the prominent local events of 2009. Lending schemes devastate investors In March, we broke the news that... (Continue reading)

Another county man faces investment charges

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)


(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)

State agency lifts Hurst Financial’s permit

By THE EDITORS A variety of accusations were filed today by the state Department of Corporations against Atascadero lender Hurst Financial and its owner, James Miller, and the agency has revoked Hurst’s permit to sell securities. Miller is one of several San... (Continue reading)

Fraud lawsuit filed against Gearhart, Hurst

By KAREN VELIE and DANIEL BLACKBURN Local investors are alleging they were bilked out of millions by Hurst Financial and developer Kelly Gearhart. David Rios and Murray Powell filed an 11-count lawsuit Tuesday in San Luis Obispo County Superior Court. Allegations include... (Continue reading)