A Nipomo man was sentenced to 11 years in prison this week for bilking $24 million from his in-laws, who didn’t notice the missing money until he came clean, according to a news release from the FBI.
John Mark Moore, 51, was sentenced to 135 months in prison for various fraudulent schemes that also victimized five banks and a friend for a total of more than $46 million. As part of his sentence, Moore was ordered to pay the $46 million in restitution.
The FBI did not release the name of the in-laws, though previous Tribune stories have identified Moore’s father-in-law as Mike Cavaletto, who co-founded C&M Nursery in 1971.
Federal prosecutors said Moore, former president of the San Luis Obispo County Farm Bureau, stole money from his in-laws’ business and personal bank accounts at Farm Credit West in Templeton by making unauthorized withdrawals and forging signatures. In addition to the $24 million stolen from his in-laws, prosecutors said Moore also bilked $23 million from five banks and a friend and business associate of the in-laws. Since the early 2000s, Moore fraudulently obtained funds by increasing lines of credit he obtained for himself, his wife, his companies and his mother through various means, including forging his wife’s signature, submitting false personal financial statements and pledging phony collateral to secure loans.
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The thefts were unnoticed until the fall of 2011, when Moore came clean to his family and then federal authorities.
He entered a plea agreement in February and was sentenced Monday in U.S. District Court.