Dan Harkey Trial in Progress

[Feb. 18, 2009: Orange County Real Estate Lender Dan Harkey is accused of bilking investors,alleging he “exaggerated the value of properties used as collateral by borrowers,” bilking dozens of investors out of more than $15 million. Harkey denied wrongdoing, blaming the downturn in the real estate and financial markets.

Many victims of this scheme were elderly.]

Investor Losses Caused by “Catastrophic Change in Market”
Point Center Financial continued collecting millions of dollars in fees on foreclosed loans while refusing to let investors withdraw their money, founder Dan Harkey admitted on the witness stand this week.

Harkey blamed a “catastrophic change in the market” for massive losses that landed him in court.

Investors are suing Harkey, his wife, Assemblywoman Diane Harkey, R-Dana Point, and his Aliso Viejo company, Point Center Financial, for $43 million in Orange County Superior Court.

The fraud trial, now in its fourth week, is expected to last into June.

Full Article and Source:
Investor Losses Caused by “Catastrophic Change in Market”

For more information:

READ the complaint

Fateful Week for the Harkeys of Dana Point

Assemblywoman Diane Harkey’s Civil Trial Delayed

4 Responses to “Dan Harkey Trial in Progress”

  1. Mike Says:

    It's so upsetting to know vultures are out there trolling for vulnerable elderly people to bilk…

  2. Finny Says:

    This is going to be an interesting case to watch. I hope they throw the book at him.

  3. Anonymous Says:

    I hope every reader forwards this blog to every newspaper and makes a nation-wide example out of Mr. Harkey's actions!

  4. Tammi Says:

    Thanks for posting, NASGA. Dan Harkey took advantage of many old people who will never recover. He should be charged with Elder Abuse as well.

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