Ventura Real Estate Infomercial Hosts Charged With Fraud
September 1, 2011 at 4:55 PM (PT)
Two real estate and financial advisors who bought time on GOLD COAST Talk KVTA-A/PORT HUENEME-VENTURA-OXNARD, CA have been charged in a complaint by the VENTURA COUNTY District Attorney's Office with real estate fraud, with losses exceeding $3 million.
The VENTURA COUNTY STAR reports that KEN POWELL and KATIE ROSE, who hosted infomercials on KVTA, and PAUL CHARLES LASCOLA are facing multiple felony counts including grand theft, theft from an elder and special enhancements for taking money or property worth more than $50,000. The alleged scam involved soliciting victims for investments in construction and development of vacant lots in TAFT, CA and loans to others, but some of the borrowers in the latter loans allegedly were bad risks, a fact not disclosed to the victims. In addition, bank records allegedly show that new investment money was being used to pay off earlier investments.