Back in October of 2009, Kenneth Doolittle was convicted on 20 counts related
to theft and fraud for an investment scam involving his Monterey Bay Securities
company in Aptos. Doolittle's sentencing hearing has just now been
scheduled for September. The hearing had been delayed for nearly two years
after Doolittle's attorney experienced health issues.
According to court documents, the charges included both fraud and financial
elder abuse. The alleged
investment fraud promised returns of 13% for investors who put money into
a company that remodeled and "flipped" mobile homes and reportedly
targeted the elderly. Doolittle is said to have brought in about ten investors
with the scheme.
Doolittle's sentencing will take place in Santa Cruz on September
7th and is expected to also address restitution for the affected investors.
If you have been the victim of a
Santa Cruz investment scheme, you may be able to recover your losses. The
experienced securities fraud lawyers with David P. Meyer & Associates have over 50 years of collective
experience helping victims of investment fraud recover losses through
FINRA arbitration, mediation, and litigation.