Jury convicts Jeremy Walter Pemberton of major financial fraud when raising capital for a proposed San Luis Obispo project in 2017

Author: District Attorney
Date: 12/14/2022 4:58 PM

Dan Dow announced today that a jury unanimously found Jeremy Walter Pemberton guilty of major financial fraud totaling more than $500,000.

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District Attorney Dan Dow announced today that a jury unanimously found Jeremy Walter Pemberton (38) guilty of two felony counts of securities fraud, one felony count of financial elder abuse, and two counts of felony grand theft by false pretenses. The jury found true an additional allegation that his theft crimes totaled more than $500,000.

It was alleged that 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, San Luis Obispo.  This address - the location of the former Sports Authority in downtown San Luis Obispo - was to be developed by Pemberton’s company, Discovery San Luis Obispo, into a three-story multi-use facility that included a bar, concert venue, restaurant, and six bowling alleys. The project was promoted by Pemberton but was never completed.  The charges against Pemberton centered around misrepresentations and omissions by him during the course of fundraising efforts in 2017. 

Pemberton is set to be sentenced on February 7, 2023, by Superior Court Judge Timothy Covello, who presided over the trial.

This matter was investigated by the District Attorney Bureau of Investigation and is being prosecuted by Deputy District Attorneys Michael Frye and Ken Jorgensen of the Special Prosecutions Major Fraud Unit of the San Luis Obispo County District Attorney’s Office.

Click here to view a copy of the charging document.  Click here to view a copy of the defendant's photo.

Please contact Assistant District Attorney Eric J. Dobroth at 805.781.5819 with any questions.

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