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San Luis Obispo County, California

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Moriarty Enterprises Prosecution

 

Moriarty Enterprises Prosecution
Defendant Albert Stephen Moriarty, Jr.

Criminal Charges Filed on May 3, 2013
Defendant Moriarty Pled No Contest August 4, 2014
Defendant Sentenced to 5 Years Prison September 17, 2014

 

Status of Criminal Case
(to be updated as events occur)

On September 17, 2014, the Honorable Judge Hugh F. Mullin sentenced Albert Moriarty, Jr., to 5 years of prison custody, as a result of Moriarty's No Contest Plea on August 4, 2014.  Moriarty will serve his prison time locally pursuant to the Criminal Justice Realignment Act of 2011.  At the sentencing hearing, several victims read or made statements to the court outlining the impact of Moriarty's crimes on them.  Additional victim letters were also read into the record. 

On December 17, 2014, Judge Mullin ordered Moriarty to pay full restitution in the amount of $10,209,301.00 to 48 of the victims in the criminal case who provided restitution claims to the San Luis Obispo County Probation Department.  Victims can call Deputy Probation Officer Carolina Cabrales at (805) 781-5305 for more information on submitting a claim for restitution.  Moriarty remains in custody, serving his five year sentence.

 Previous Information Regarding the Criminal Case

Filing of Charges and Arrest: The San Luis Obispo County District Attorney's Office previously announced that Albert Moriarty, Jr., president and owner of Moriarty Enterprises, doing business in Grover Beach, CA., was placed under arrest Sunday, May 5, 2013, in Kitsap County, Washington. Moriarty was arrested on a $5 million arrest warrant which was issued May 3, 2013 by the Honorable Judge Barry T. LaBarbera of the San Luis Obispo County Superior Court. Moriarty was thereafter booked into Kitsap County Jail, Washington, and then later transported to San Luis Obispo County. 

A criminal complaint was filed against Moriarty on May 3, 2013, after an extensive investigation by the San Luis Obispo County District Attorney's Office and California Department of Corporations, with significant assistance from the FBI and the California Department of Insurance. In the criminal complaint, Moriarty is charged with one count of Fraudulent Practices in the Offer and Sale of Securities in violation of California Corporations Code section 25541, three counts of Material Misstatements and Omissions in the Offer and Sale of Securities in violation of California Corporations Code section 25401, one count of Embezzlement of Investor Funds, and two counts of Acting as an Investment Advisor and Offering and Selling Securities Without Required Licenses from the California Department of Corporations, in violation of California Corporations Code sections 25230 and 25110. Two enhancements alleged in the criminal complaint also include an "Aggravated White Collar Crime" enhancement and an enhancement for "Excessive Taking" of at least $3.2 million.

Arraignment, Bail Reduction Hearings, and Preliminary Hearing: On Wednesday, May 29, 2013, Al Moriarty was arraigned on the charges in the Criminal Complaint, entered a not guilty plea and denied the special allegations and enhancements.  On June 12, 2013, Moriarty's request to have his bail amount reduced from $5 million was denied by the Honorable Judge Jacqueline Duffy.  On Wednesday October 16, 2013, attorney Scott Whitenack replaced attorney Tom Allen as Moriarty's attorney of record.  On October 24, 2013, Moriarty's Motion to Reduce Bail was denied by the Honorable Judge Dodie A. Harman.  On Tuesday, November 5, 2013, Al Moriarty was held to answer as charged in the Criminal Complaint by the Honorable Judge Dodie A. Harman, following four days of Preliminary Hearing testimony and argument.  Moriarty remains in custody with his bail at $5 million as previously set.

Defendant's No Contest Plea August 4, 2014:  On Monday August 4, 2014, Albert Moriarty, Jr., pled no contest to the seven felony criminal charges against him for fraud and embezzlement stemming from his operation as owner and president of Moriarty Enterprises in Grover Beach CA, from 2007 through 2012.  A "No Contest" plea is treated the same as a "Guilty" plea in a criminal case.  Moriarty also admitted eight enhancements and special allegations that were filed against him, including an excessive takings enhancement alleging that he caused over $3.2 million in losses.  Moriarty also agreed to transfer all of his present and future property and assets to the Court for victim restitution. 

Contacting the Didstrict Attorney's Office:  Updated information about the case will continue to be available on the San Luis Obispo County District Attorney's Office website at http://www.slocounty.ca.gov/DA.htm  under "Moriarty Enterprises Prosecution." Alleged victims in the case with questions may also contact the District Attorney's Office Hotline set-up especially for this case and other Securities Fraud Cases at (805) 781-1053 to leave a message, or send an e-mail to: da_Moriarty_Enterprises@co.slo.ca.us

 Freezing of Assets

The San Luis Obispo County Superior Court has issued orders freezing the personal assets of the defendant, including any assets in which the defendant may have an interest.  These court orders have frozen not only personal assets and interests in real estate, but also bank accounts, other financial accounts, vehicles and other things of value, whether the assets have been specifically listed or identified or not.  The court orders prohibit anyone from selling or secreting these assets.

 Victims' Rights

Seventeen constitutional victims' rights were enacted on November 5, 2008, with the passage of Proposition 9, the Victims' Bill of Rights Act of 2008: Marsy's Law. Victims' rights will continue to be cited by the prosecution as issues arise related to victims' rights. for more information on Marsy's Law click here: MARSY'S LAW

 

Link: Information Regarding July 10, 2013, Court Order Modifying TRO

 

Contact Information:

Financial Crimes Prosecution Hotline: (805) 781-1053

Email: da_Moriarty_Enterprises@co.slo.ca.us