California Real Estate Fraud Report

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Stewart Title Settles with Kelly Gearhart Investors

Stewart Title has settled a lawsuit filed by investors of bankrupt North County developer Kelly Gearhart. Stewart Title was sued by 300 of Gearhart’s investors by the law firm of Kirby, Noonan, Lance and Hoge, which accused it of conspiring with Gearhart and Hurst Financial, Inc. to defraud the investors in a real estate investment fraud scheme. The plaintiffs will receive approximately 27% of their investments.

Kelly Gearhart, who no longer lives in California, is the subject of a federal investigation into racketeering, money laundering and mail fraud, as is Jay Miller, the president of Hurst Financial. According to Cal Coast News, more than 1,200 investors, many of them elderly, invested more than $100 million with Hurst Financial that cannot be found.

Read the original article in the Cal Coast News. You can also read more details in earlier postings of the California Real Estate Fraud Report.

© Copyright 2007-2018 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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