Developer of failed SLO bowling alley sentenced to prison for fraudulent fundraising
A San Luis Obispo developer who attempted to create a bowling alley, restaurant and bar space in a long-vacant downtown space will serve four years in state prison, according to the San Luis Obispo County District Attorney’s Office.
In December, a jury found Jeremy Pemberton, 38, guilty of felony securities fraud, financial elder abuse and grand theft by false pretenses, the District Attorney’s Office said in a news release.
San Luis Obispo Superior Court Judge Timothy Covello sentenced Pemberton on Thursday.
Pemberton had reportedly planned to turn 1144 Chorro St. — the former home of Copeland’s Sports and Sports Authority in downtown San Luis Obispo — into the event space with his company, Discover San Luis Obispo, the release said.
The vision never came to fruition, and the business space remains vacant.
While he promoted his idea for the business, Pemberton misled investors by not disclosing that his lease for the property was in default, the release said, and lied about the amount of money he’d received from other investors.
He was originally accused of stealing $700,000 — $500,000 from an investor and $200,000 from an elderly couple — but the jury determined Pemberton’s crimes amounted to slightly more than $500,000 in thefts, the release said.
Pemberton will be required to pay everything back, according to the release.
A restitution status hearing is scheduled for May 23.
“White collar crime is a serious matter that often involves predatory practices against victims who are elderly and vulnerable,” San Luis Obispo County District Attorney Dan Dow in the release. “I am proud of our special prosecutions unit that works hard to protect consumers and hold individuals and businesses accountable for their white collar crime.”
This story was originally published February 9, 2023 at 6:00 PM.
