By KAREN VELIE In a scheme rife with fraud and deceit, San Luis Obispo attorney John Belsher bilked his clients out of millions of dollars while living a
In a scheme rife with fraud and deceit, San Luis Obispo attorney John Belsher bilked his clients out of millions of dollars while living a life of luxury, according to a May 23 ruling. The court ordered Belsher and his partner Ryan Petetit to pay a more than $3.6 million proposed judgement.
In Aug. 2013, Belsher offered Jeff Chase a 100% return for investing in a 259-unit residential PB Companies project – Mission Oaks Camarillo. The Chases invested $500,000 with a promise of a $1 million return. Instead, Belsher wrote the Chases a check for $600,000 while persuading the couple to roll the remaining $400,000 into his Junction Gang mixed-use project, located on Santa Barbara Street in San Luis Obispo, according to the ruling.
Belsher and Petetit, however, failed to finish most of their projects or reimburse the Chases while living lives of luxury, including leasing private jets, buying luxury cars and traveling abroad.that accused Belsher and Petetit of bilking them out of nearly $3 million they invested in four of the developers’ projects. The Chases also accused Belsher of violating State Bar rules of professional conduct.
“I think I was a longtime friend,” Belsher testified. “I don’t know about trust. I don’t know what that means.”“The court concludes that, as a general matter, Belsher’s testimony was in multiple respects not credible,” Judge Kelley wrote in his ruling. “This finding is based in part on Belsher’s demeanor when testifying as well as the substance of his testimony.”
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