Another Alleged San Diego Ponzi
The Securities and Exchange Commission yesterday (Feb. 21) in federal court charged Carlsbad's Steven L. Hamilton with allegedly bilking 23 investors of $1.6 million in a series of Ponzi schemes. According to the agency, between 2007 and 2011, Hamilton told …
Tourism Picking Up, But More Slowly in SD
The hotel business is gaining momentum in California markets, according to January data from Smith Travel Research. Hotel-expert Jerry Morrison of La Jolla's Morrison & Co. notes that this January, the San Diego occupancy rate picked up 1.7% from a …
Controversial Bridgepoint, Sunroad End Lease
Two of San Diego's most controversial entities, for-profit college Bridgepoint Education and office operator Sunroad Centrum ended a lease agreement, according to a Sunroad filing with the Securities and Exchange Commission on Friday (Feb. 17). Bridgepoint, whose staggering dropout rate …
UCAN Joins Fight Against Utility's Treatment of Customers
Utility Consumers' Action Network, local utility watchdog, has filed a complaint with the California Public Utilities Commission against San Diego Gas & Electric's attempt to pass uninsured costs of the 2007 wildfires and future fires to ratepayers, instead of to …
Michael T. Pines Files Another Suit
Michael T. Pines, who as a North County lawyer advised clients to retake possession of their foreclosed homes, has filed another suit. (His license has been snatched by the state bar, but he can file his own suit.) This suit …
Two Brokers Disciplined
The Financial Industry Regulatory Authority revealed in its February report that it has disciplined two San Diego County brokers. Robert John Clark of Vista was fined $25,000 and suspended 6 months for selling a private placement investment aggregating $350,000 to …
Do Sempra Shareholders Need Any Further Massaging?
San Diego Gas & Electric's strategy (with the California Public Utilities Commission's surreptitious concurrence) is a classic case of an American corporation raping its customers to enrich its shareholders. You can see this from information provided by Sempra Energy, SDG&E's …
Homeless Veterans Neglected
A new study by the National University System Institute for Policy Research calculates that on any given night, 1700 to 2000 homeless veterans are on San Diego County streets or in shelters. Between 2009 and 2010, some $54 million was …
Planner Loses Certification But Keeps Using It
In August 2011, the Certified Financial Planner Board of Standards permanently revoked the Certified Financial Planner (CFP) certification of Martin Batstone of Wealth Advisors, Inc., but he continued to carry the CFP designation on the firm's website and through his …
SD Home Values May Bottom Late This Year
San Diego is among a group of metro areas whose home values will likely hit bottom late this year, according to Zillow. Others are Dallas, Denver, Miami, New York, Pittsburgh, San Francisco, and Tampa, says the housing research firm. San …
SEC Settles Coal-to-Ethanol Case with Widow
Early this month, the Securities and Exchange Commission settled a case against Margaret Grey, widow of the head of La Jolla's Nova Gen, which sold stock to investors on the claim that it had rights to a technology that would …
Workforce Index Rises for Fifth Straight Month
The San Diego Workforce Index, published by the San Diego Workforce Partnership, rose to 86.96 in December from 86.70 in November, the fifth straight monthly gain. Indeed.com available jobs dropped and the number of first-time filers for unemployment insurance rose, …
Penny Stock Brokerage Disciplined
World Trade Financial Corp., a brokerage specializing in over-the-counter and penny stocks, has been nailed by both the Securities and Exchange Commission and independent Financial Industry Regulatory Authority. First, the regulatory authority fined the firm and fined and suspended three …
CPUC Sued for Allegedly Not Sharing Information
Attorney Mike Aguirre today (Feb. 6) sued the California Public Utilities Commission in Superior Court for not disclosing records pertaining to San Diego Gas & Electric's attempt to get its customers to pick up the tab for 2007 wildfire liabilities …
Lawyer for Duke's Wife Disbarred
According to the January edition of the Calbar Journal, La Jolla's James A. Macy, the former lawyer for Duke Cunningham's wife, was disbarred Oct. 28 over matters related to his handling of her funds, as well as misappropriating funds in …
Steigerwalt Responds to Bar Charges
Lawyer Kerry Steigerwalt, who headed a heavily-advertised law firm that went out of business in 2010, denied this month charges filed by the State Bar of California in December. The charges were similar to those reported in a Reader column …
Goodell Shuts Door on NFL Teams Moving
The big controversy over the Chargers moving to Los Angeles would appear to be over. National Football League Commissioner Roger Goodell said on TV last night (Thursday, Feb. 2) that the league "doesn't want to move any of our teams." …
U.S. Adds 243,000 Jobs, Unemployment Drops to 8.3%
The U.S. gained 243,000 jobs in January — around double economists' expectations — as the unemployment rate dropped to 8.3%, the Labor Department said today (Feb. 3). The rate has now declined for five straight months, although that's partly because …
Former Gateway Execs Nailed by SEC
The Securities and Exchange Commission (SEC) revealed today (Jan. 31) that two former executives of one-time San Diego computer giant Gateway have been enjoined from future violations of securities laws. Former chief executive Jeffrey Weitzen and former controller Robert Manza …
Broker Banned for Churning Teenager's Account
The Financial Industry Regulatory Authority (FINRA) has banned San Diego registered brokerage supervisor Kale Edgar Evans from association with FINRA members and ordered him to pay a fine. According to FINRA, Evans recommended unsuitable investments, including some made on margin, …