A local business developer has been charged with securities fraud, financial elder abuse, and grand theft, and a warrant is out for his arrest.
Jeremy Walter Pemberton, 35, is accused of fraudulently obtaining more than $500,000 from one victim and more than $200,000 from another.
The San Luis Obispo County District Attorney's Office says between April and August of 2017, 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 in San Luis Obispo.
Pemberton had promised to turn the former Sports Authority site into Discovery San Luis Obispo, a bowling alley, restaurant and multi-use facility, but the developers pulled their plans for the project in June 2018.
If convicted of all charges, Pemberton could face more than 16 years in prison.