Friday, October 24th, 2014

Moriarty Makes Court Appearance In Fraud Case

Al-MoriartyOn Monday morning, Al Moriarty, the Grover Beach financial services owner accused of fraud and embezzlement, made his first appearance in San Luis Obispo Superior Court.

Moriarty, owner of Moriarty Enterprises, was assigned a public defense attorney, Ron Crawford, who asked that the arraignment be continued to Wednesday. Superior Court Judge Jacqueline Duffy granted the request.

Moriarty, 80, was arrested May 5 in Washington and remains in San Luis Obispo County Jail with bail set at $5 million.

Moriarty is charged with several felonies including fraudulently offering or selling securities; three counts of selling securities with false statements or omissions such as telling investors their money would be secured by gold, real estate and his own life insurance policy; grand theft by embezzlement of investor funds; and two counts of acting as an investment adviser and offering or selling securities without the required licenses.

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