California Real Estate Fraud Report

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20
Sep

Another Lawsuit against Kelly Gearhart, Cuesta Title

San Luis Obispo Superior Court Judge Charles S. Crandall has denied several motions by embattled developer Kelly Gearhard, Cuesta Title and Cuesta’s parent company Stewart Title and allowed a lawsuit by Vincent Crooks and Mid-Coast Mortgage. The judge ruled that there is sufficient cause for fraud by concealment having to do with the duty of an escrow officer to disclose improprieties, according to a report in the San Luis Obispo Tribune.

Crooks is making some stunning allegations in his lawsuit, among others, that Cuesta Title knew that Gearhart intended to defraud him, Mid-Coast Mortgage and their investors, yet did not inform him. Another allegation by Crooks is that Gearhart was using the loans to secure other loans as part of a Ponzi scheme.

Kelly Gearhart’s is claiming losses of more than $110 million in his bankruptcy filing.

To read more about Kelly Gearhart, Cuesta Title, the DRE’s investigation into both, use the search feature on the California Real Estate Fraud Report. The accusations regarding appraisal fraud can be found here.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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