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Thursday, May 23, 2013 Volume: 27, Issue: 43
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New Times / NewsThe following articles were printed from New Times [newtimesslo.com] - Volume 27, Issue 16
Paso lender faces five years for fraudBY NICK POWELLLinda Ann Kennedy, former president of 21st Century Financial Resources, Inc., pleaded no contest on Nov. 6 to four felony counts and 10 special allegations related to fraudulent practices involving hard money loans on real estate projects throughout San Luis Obispo County, according to a press release from the District Attorney’s Office. The crimes occurred between 2006 and 2007 and caused a loss of more than $1.3 million to numerous victims, prosecutors said. As far as sentencing goes in criminal proceedings, a plea of no contest has the same effect as pleading guilty. Kennedy is due back in court on Dec. 4, and SLO County Superior Court Judge Barry LaBarbera indicated that he’ll likely put her behind bars for five years, according to the release. Kennedy was first charged in March and was arrested in Tennessee in July. Investigators traveled across the country to bring her back to the San Luis Obispo County jail. As of press time, Kennedy remains in custody on $1.3 million bail. Her assets have been frozen. |
Get on the bus!
Troublesome numbers - With reform legislation stalling, a state nurses union releases local hospitals' billing figures
Each drop is priceless - Santa Maria is ahead of the curve when it comes to water conservation
Changing of the guard
Lompoc wind farmgets two more years
Abel Maldonado is striving to repeal A.B. 109
Good, clean fun
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