Linda Kennedy, 49, of Paso Robles woman, has been charged with four felonies in connection with an alleged real estate investment fraud that involved hard money loans in the amount of $1.3 million. She has pleaded not guilty.
Kennedy was arrested this past July. She was president of 21st Century Financial Resources Inc., which pooled investors’ monies into securites collateralized by real estate deeds. Her firm has been under investigation by state agencies since 2005, when an audit by the California Department of Real Estate found accounting discrepancies.
Linda Kennedy’s real estate broker’s license was revoked by the DRE in 2006.
Read the original article in the San Luis Obispo Tribune.