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Monterey Peninsula Real Estate News
California man sentenced for $24 million real estate scheme
Posted on Wednesday May 30, 2018
FRESNO, Calif. (AP) - A California man whose real estate scam bilked investors out of $24 million has been sentenced to more than 12 ½ years in federal prison.
Seth DePiano of Clovis was sentenced Tuesday and ordered to pay back some $20 million to victims.
Prosecutors say that from 2010 to 2017, DePiano got 28 people to invest money they thought would be used to buy rental properties.
Ex-Wilmington Trust officials convicted of fraud, conspiracy
Posted on Thursday May 03, 2018
WILMINGTON, Del. (AP) - Four former executives for the only financial institution to be criminally charged in connection with the federal bank bailout program were convicted Thursday of fraud and conspiracy charges.
The former Wilmington Trust executives were convicted after a six-week trial in which prosecutors said the defendants deliberately misled banking regulators and investors by not reporting hundreds of millions of past due loans.
Judge rejects Carmel Valley Rancho Cañada Village project
Posted on Monday April 30, 2018
Carmel Valley >> In the latest setback for the Rancho Ca#xf1;ada Village subdivision, a Monterey County Superior Court judge has rejected the Board of Supervisors' approval of the proposed housing project.
Last week, Judge Lydia Villarreal issued an intended decision in a lawsuit filed by the Carmel Valley Association finding the county board's December 2016 approval of the 130-unit development proposed by Carmel Development Company developer Alan Williams and partner Clint Eastwood on an 81-acre portion of the former Rancho Ca#xf1;ada golf course site was flawed because the proposal's environmental impact report included a project description that was inaccurate and its analysis of project alternatives was inadequate.
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