Arrest warrant issued for SLO County business developer after fraud charges filed

SAN LUIS OBISPO, Calif. - A San Luis Obispo business developer has been charged with fraud and a warrant has been issued for his arrest.

Jeremy Walter Pemberton, 36, was charged with two felony counts of securities fraud, one count of financial elder abuse and two counts of grand theft, San Luis Obispo County District Attorney Dan Dow said in a news release Monday.

Pemberton is also accused of fraudulently obtaining more than half a million dollars from one victim and more than $200,000 from another.

The DA's office alleges that Pemberton misrepresented the amount of financing he received from other investors and failed to disclose a default of the lease on a property at 1144 Chorro Street in downtown San Luis Obispo.

That location at one point was to be developed by Pemberton's company, Discovery San Luis Obispo, into a multi-use facility which included a bowling alley and restaurant/bar.

An arrest warrant was issued for Pemberton. If convicted of all charges, he could face up to 16 years and four months in prison.

The full complaint can be found here.