Fraud charges filed against local business developer, arrest warrant issued
–District Attorney Dan Dow announced this week that local business developer Jeremy Walter Pemberton, 34, has been charged in a felony complaint with two counts of securities fraud, one count of financial elder abuse, and two counts of grand theft for conduct alleged to have occurred between April and August of 2017.
It is also alleged that Pemberton fraudulently obtained in excess of $500,000 from one victim and more than $200,000 from another. A warrant has been issued for his arrest.
It is alleged that Pemberton misrepresented the amount of financing he had received from other investors and failed to disclose a default on the lease for 1144 Chorro Street, San Luis Obispo. This address – the location of the former Sports Authority in downtown San Luis Obispo – was to be developed by Pemberton’s company, Discovery San Luis Obispo, into a multi-use facility that included a bar, restaurant, and bowling alley.
If convicted of all charges, Pemberton would face a prison sentence of up 16 years, four months. This matter was investigated by the District Attorney Bureau of Investigation and is being prosecuted by Deputy District Attorney Michael Frye of the Special Prosecutions Major Fraud Unit of the San Luis Obispo County District Attorney’s Office.
Criminal complaints contain charges that must be proven in a court of law by proof beyond a reasonable doubt. Every defendant is presumed innocent until proven guilty.
Click to view a copy of the complaint document.
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