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Articles Tagged With ‘Kelly Gearhart’




Heritage Oaks Bank files big foreclosures

Written on 17 Jan, 2009 in Uncovered SLO | One comment

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)

DUMPSTER CHRONICLES: Web of deceit

Written on 22 Dec, 2008 in Uncovered SLO | 8 comments

(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)

Lenders accused of fraud agree to surrender licenses

Written on 21 Oct, 2008 in Uncovered SLO | 3 comments

By KAREN VELIE and DANIEL BLACKBURN Hurst Financial Inc. president James Hurst Miller Jr. and his daughter Courtney Lee Brard admitted to state regulators their complicity in fraud. The pair agreed to forfeit their real estate licenses rather than dispute a large... (Continue reading)

DUMPSTER CHRONICLES: Law, disorder, and the DA

Written on 27 Sep, 2008 in Uncovered SLO | 4 comments

SECOND IN A SERIES By KAREN VELIE and DANIEL BLACKBURN A disengaged and reticent district attorney failed to investigate numerous complaints targeting fraudulent hard money lenders and big-name developers during the past 18 months, even as new and unsuspecting investors were being... (Continue reading)

BULLETIN: Gearhart crashing, burning

Written on 16 Sep, 2008 in Uncovered SLO | One comment

By THE EDITORS Attorneys for North County developer Kelly Gearhart, the darling of Atascadero city officials, hard-money lenders, and local banks, encountered Judge Charles S. Crandall Tuesday morning. The San Luis Obispo County Superior Court jurist took position and control from... (Continue reading)

Where did Hurst’s Beacon Road money go?

Written on 9 Jul, 2008 in Uncovered SLO | 9 comments

By DANIEL BLACKBURN and KAREN VELIE Investors wooed by Atascadero hard money lender Hurst Financial’s owner Jay Miller raised $414,000 of an apparent $485,000 loan to help fund a new North County commercial park, but learned within four months that only... (Continue reading)

Bank’s own appraisal questions Gearhart loan

Written on 1 Jul, 2008 in Uncovered SLO | 7 comments

By KAREN VELIE and DANIEL BLACKBURN A million-dollar loan from Heritage Oaks Bank to North County developer Kelly Gearhart earlier this year was based on “erroneous” and questionable claims, according to the bank’s own appraisal. That appraisal was not received by bank... (Continue reading)

Banks on thin ice after risky loans to developer

Written on 17 May, 2008 in Uncovered SLO | 29 comments

By KAREN VELIE and DANIEL BLACKBURN Bank loans which appear inadequately secured made to a well known North County developer -- as well as an accompanying tangled web of loan transfers -- may have created significant problems for some San Luis... (Continue reading)

Hurst, Gearhart drawing battle lines

Written on 12 May, 2008 in Uncovered SLO | 8 comments

By DANIEL BLACKBURN and KAREN VELIE Two prominent North County real estate confederates appear headed for a showdown after one announced today he “will be filing notices of default” on many delinquent loans, including at least several with developer Kelly Gearhart. Hard... (Continue reading)

Fraud lawsuit filed against Gearhart, Hurst

Written on 6 May, 2008 in Uncovered SLO | 40 comments

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)