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 Case against Albert Moriarty moves forward
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10 months ago

Case against Albert Moriarty moves forward

At the end of a four-day preliminary hearing on Tuesday, a San Luis Obispo judge decided Albert Moriarty would be held to answer to charges of embezzlement and fraud.

The Central Coast businessman is accused of taking money from investors.

He will return to court on November 18 for an arraignment hearing. He remains in custody at San Luis Obispo County Jail on $5,000,000 bail.

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11 months ago

Moriarty bail reduction denied

Albert Moriarty, the Central Coast businessman charged with embezzlement and fraud, won't be getting out of jail any time soon.

A judge Thursday denied a bail reduction request, so Moriarty will remain in custody at San Luis Obispo County Jail on $5,000,000 bail.

Moriarty has pleaded not guilty to the charges against him.

He'll be back in court on October 30 for a preliminary hearing.

1 year ago

Al Moriarty appears in court

Al Moriarty, the Central Coast businessman charged with embezzlement and fraud, was in court.

Wednesday was the pre-preliminary hearing.

Moriarty has pleaded not guilty and denies the enhancement charges against him.

Moriarty is currently in jail, with bail set at $5 million.

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1 year ago

No comment from Cal Poly on Moriarty scoreboard

Thousands of people packed into Spanos Stadium for Cal Poly graduation last weekend and when they looked up at the scoreboard they saw a giant advertisement for Moriarty Enterprises. That's the business of Al Moriarty who's currently being held in San Luis Obispo County Jail on charges of embezzlement and fraud.

KSBY asked Cal Poly if the sign will still be there in the fall when people return to the stadium for football and soccer games. The University declined comment because the matter is still moving through the courts.

Moriarty donated $600,000 to fund the scoreboard. The former Cal Poly football player and Hall of Famer is set to appear in court in July. The 80 year old pleaded not guilty to seven felony charges including fraudulently selling or offering securities and telling investors their money was secure with gold and real estate. Court records say he owes more than $22 million to creditors and San Luis Obispo County residents.

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1 year ago

Grover Beach financier enters plea in court

The central coast financier accused of embezzlement and fraud, pled not guilty in a San Luis Obispo courtroom Wednesday.

Al Moriarty, 80, is the owner of Moriarty Enterprises in Grover Beach. He was arrested in Washington State on May 6th.

Moriarty is currently in jail with a bail set at $5,000,000.

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1 year ago

Moriarty arraignment postponed for a second time

Al Moriarty's arraignment was postponed a second time Wednesday morning in San Luis Obispo Superior Court.

The Grover Beach financial services owner accused of fraud and embezzlement, was assigned a new public defense attorney, Thomas Allen, because of a conflict with his prior assigned attorney.


Moriarty, 80, remains in San Luis Obispo County Jail with bail set at $5 million.


He is charged with seven felonies including fraudulently offering or selling securities; three counts of selling securities with false statements or omissions such as telling investors their money would be secured by gold, real estate and his own life insurance policy; grand theft by embezzlement of investor funds; and two counts of acting as an investment adviser and offering or selling securities without the required licenses.


In addition, two enhancements were included for an aggravated white-collar crime and excessive taking of more than $3.2 million.


Moriarty will be back in court on May 29.

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1 year ago

Jailed Grover Beach financier a big donor

Al Moriarity is in the San Luis Obispo County Jail accused of securities fraud and embezzlement. The 80-year-old Grover Beach financier is owner of Moriarty Enterprises. His financial troubles began in 2008 when banks pulled his lines of credit.

The Cal Poly alum is well known for his large scale donations, including for the huge scoreboard at Spanos Stadium. Investigators are searching to find if the hundreds of thousands of dollars he donated belonged to him.

Moriarity played football at Cal Poly on the undefeated team of 1953. He was inducted into the Cal Poly Athletics Hall of Fame in 2002. in 2009, he made a gift of more than $600,000 for the Spanos scoreboard that now bears his name. Cal Poly said it is "premature and inappropriate for us to comment on his donation at this time."

An online search on the Secretary of State's website shows Moriarty made numerous federal campaign contributions. Over a two year period he gave $2,000 to McPherson for Secretary of State and $3,500 for McPherson for Lt. Governor.

Moriarity also gave over $1,700 to the National Association of Insurance & Financial Advisors over a 4 year period. Plus, from 2008 to 2011 he gave over $2,000 to the National Association of Insurance and Financial Advisors Political Action.

According to public documents, in 2010, Moriarty donated to the Committee to Elect Ian Parkinson. On August 6th he made a contribution of $1,000 and $600 on August 26th.

The San Luis Obispo County Sheriff's Office says the $600 contribution was unsolicited but was actually an auction item Moriarty purchased at a Fundraiser for Parkinson for Sheriff.

Moriarty should appear in court Monday for his arraignment.

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1 year ago

Moriarty back in San Luis Obispo County

A local businessman accused of white collar crimes is back in San Luis Obispo County.

Al Moriarty was arrested Sunday in Kitsap County, Wash. on a $5 million arrest warrant issued out of San Luis Obispo County.

The 80-year old owner of Moriarty Enterprises is accused of securities fraud and embezzlement.

KSBY News has learned Moriarty waived extradition to San Luis Obispo County on Tuesday.

He was booked into the San Luis Obispo County Jail Thursday night and will be arraigned on Monday.

His bail is set at $5,000,000.

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1 year ago

Moriarty on way back to San Luis Obispo County

Sources close to the investigation tell KSBY News Al Moriarty, a Central Coast businessman charged with white collar crimes, is on his way back to San Luis Obispo County from Washington state.

Moriarty was arrested Sunday in Kitsap County on a $5 million arrest warrant issued out of San Luis Obispo County. The 79-year old owner of Moriarty Enterprises is accused of securities fraud and embezzlement.

KSBY News has learned Moriarty waived extradition to SLO County on Tuesday.

He is expected to be booked into San Luis Obispo County Jail Thursday night and arraigned on Friday or Monday.

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1 year ago

Prominent businessman in jail for securities fraud and embezzlement concerning locals

A prominent Central Coast businessman remains in jail Monday night, accused of securities fraud and embezzlement.

Al Moriarty, who is 79-years old, ran an insurance company out of Grover Beach, and is well known for being a Cal Poly alum and contributing to his alma mater.

Moriarty claims his financial troubles began with the recession of 2008, and banks eventually pulling his line of credit. He filed for Chapter 7 bankruptcy in January in Washington, where he has a home. Now, he faces no less than 19 civil lawsuits for unpaid promissory notes and allegations of fraud elder abuse and breach of contract.

Moriarty is well known on the Central Coast. He played at Cal Poly on the undefeated football team in 1953 before graduating from the school. In fact, he donated more than $600,000 to fund the scoreboard at the Alex G. Spanos football stadium, and it bears his name.

In the 1960s, he also coached at Mission College Prep.

He built a name for himself as a reputable investment firm, until these allegation came to light. Dozens of his clients say they became concerned when their checks stopped coming, with so many complaints and lawsuits, some have gone as far to accuse him of running a Ponzi scheme. Court records show he owes more than $22 million dollars to local clients and creditors.

On Monday night, KSBY spoke to a couple of local financial advisors. Connie Framberger, who specializes in professional insurance services in San Luis Obispo, said the best way for a person to check if an investor is the right fit, is to check where they went to school, what professional organizations they belong to, and for references. She said, even though Moriarty may have been able to vouch for all of those things, he still may have been able to fall through the cracks. She said the bottom line is, when it comes to investing and buying, if something doesn't feel right, don't purchase it.

Moriarty remains in jail in Kitsap County in Washington under $5 million dollars bail. He is not waiving extradition, so he will stay in that jail until he is moved to San Luis Obispo County. This could take up to 90 days.

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1 year ago

UPDATE: Moriarty awaiting extradition to SLO County

Albert Moriarty, Jr., a well-known Central Coast businessman appeared in a Washington state courtroom on Monday. The 79-year old was arrested in Kitsap County on Sunday, on a $5 million arrest warrant issued out of San Luis Obispo County.

Moriarty, president and owner of Moriarty Enterprises in Grover Beach, faces charges of Fraudulent Practices in the Offer and Sale of Securities, Material Misstatements and Omissions in the Offer and Sale of Securities, Embezzlement of Investor Funds, and Acting as an Investment Advisor and Offering and Selling Securities Without Required Licenses. Two enhancements in the complaint also include Aggravated White Collar Crime and Excessive Taking of at least $3.2 million.

Moriarty is awaiting extradition to San Luis Obispo County. Court officials in Washington tell us he will remain in jail there until he is transferred to California.

The San Luis Obispo County District Attorney's Office has set up a hotline for anyone who believes they may have been a victim of Moriarty, at (805) 781-1053.

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1 year ago

Well-known, local investor arrested

KSBY News has learned a local financial investor sits in a Washington state jail awaiting charges for felony fraud.

According to the San Luis Obispo County Sheriff's Office, Albert Moriarty, 79, was arrested Sunday in Kitsap County, Washington on a $5 million California warrant.

Moriarty is a well-known financial consultant in Grover Beach. He owned a home and property in Nipomo. He was the owner of Moriarty Enterprises.

The charges on the arrest warrant include securities fraud and use of a scheme to defraud.

The San Luis Obispo County Sheriff's Office has put in a request for extradition, but that process has not started. He is due in court in Kitsap County at 1:30 pm Monday. Moriarty is held without bail.

Moriarty is also facing numerous civil lawsuits from creditors and clients.

KSBY News is following this breaking story, we will update you as soon as more information becomes available.

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