Man behind failed SLO development project found guilty of fraud

Posted at 9:08 PM, Dec 14, 2022
and last updated 2022-12-15 00:26:45-05

A jury has found a San Luis Obispo County man guilty of several counts, including fraud.

38-year-old Jeremy Walter Pemberton was convicted of two felony counts of securities fraud, one felony count of financial elder abuse, and two counts of felony grand theft under false pretenses.

The San Luis Obispo County District Attorney’s Office says Pemberton misrepresented the amount of financing he had received from investors, along with a default on a lease for a San Luis Obispo property.

The property was located on the 1100 block of Chorro St. and was the location of the former Sports Authority building.

Pemberton promoted that he planned to convert the property into a muti-use entertainment facility, but it was never completed.

Investigators found that Pemberton misrepresented the project during fundraising efforts in 2017.

Developers pulled their plans for the project in June 2018.

Pemberton is scheduled to be sentenced on February 7.