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Sunday, November 20, 2011 

Pasolivo is being sold to pay Estate Financial victims

I love their olive oil...I hate the former owners' wrong doing. How can someone defraud "Meals on Wheels?"
A court-ordered sale is now under way for the Pasolivo olive oil business and its surrounding 131 acres to help pay back victims of the collapsed Paso Robles lender Estate Financial.

The sale is being conducted in two rounds, the first of which ended last week and was intended to qualify buyers, according to a fact sheet for prospective purchasers.

...Guth and her son, Joshua Yaguda, were sentenced in December 2009 to 12 and eight years in state prison, respectively, for defrauding tens of millions of dollars from hundreds of the lender’s investors — most of whom were elderly — in a Ponzi scheme.

Pasolivo and its property were part of Guth’s personal assets, and proceeds of the sale would go toward paying back Estate Financial victims, said Andrew T. Feola, a vice president at Beverly Hills-based Geringer Capital, which is handling the transaction. - San Luis Tribune

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