A man was charged with multiple counts of financial elder abuse after allegedly swindling two elderly persons off varying amounts of money. The District Attorney, Dan Chow, went public with the charges on Tuesday, April 7.

The suspect, Jeremy Walter Pemberton, a 34-year-old business developer, is faced with one count of financial abuse for his scheme. In addition, Pemberton was also charged with two counts each of grand theft and securities fraud.

The DA alleged that between April and August of 2017, the felon, by means of fraud, obtained no less than $500,000 from one elderly victim, and at least $200,000 from another.

The criminal complaint also alleged that Jeremy Walter Pemberton misrepresented the financing amounts availed him by other investors. The local business developer neglected to disclose a default on the lease for 1144 Chorro Street in San Luis Obispo.

Pemberton’s company, Discovery San Luis, was tasked with developing the property into a multi-use facility complete with a bar, a restaurant, and a bowling alley. The development was meant to be an upgrade of the bland building, which was formerly the center of the Sports Authority in downtown San Luis Obispo.

Although the suspect remains at large, an arrest warrant has been issued to take him into custody. Felony charges of such magnitude can attract up to 16 years and four months prison sentence if convicted.

Cases of elder abuse in the state of California are often treated with utmost concern as provided in the penal code. Therefore, it is important that the facts presented in the felony complaints are genuine before proceeding to prosecute a suspect.

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