California Real Estate Fraud Report

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“Ken and Katie” Ordered to Pay $8 million to Victims

Two formerly popular Ventura County radio talk show hosts who received prison sentences last month for operating a real estate investment fraud case have been ordered to pay almost $8 million in restitution.

Kathryn “Katie” Bess Rose, 63, of Woodland Hills and Kenneth Alan Powell, 59, of Bakersfield were on air as “The Ken & Katie Show,” which purported to help fledgling real estate investors. Instead, their actions led to pleas by both to to 28 felonies in Ventura County Superior Court, all related to real estate fraud which appear to have as their victims primarily retired and elderly investors from Ventura, Los Angeles and Santa Barbara counties (elder financial fraud).

Deputy District Attorney Dominic Kardum, who said that many of the victims gave their life savings to Rose and Powell, or the equity in their homes, will not see the restitution. But for the record, Katie Rose, who is going to prison for 12 years and eight months, was ordered to pay $3.4 million to her victims. Kenneth Powell received a sentence of 18 years in state prison and must pay $4.3 million.

A third accused, Paul Charles Lascola of Thousand Oaks, has been charged with 24 felonies and sits in jail waiting for his preliminary hearing in October.

Read the original article in the Thousand Oaks Acorn.

© 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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