When he was no longer able to pay his investors back, “the Ponzi scheme collapsed.”. Christian Dougherty. Christopher Dougherty, 46, scammed at least 31 families, mostly senior citizens over a 5-year period, according to The San Diego County District Attorney’s office. This Google™ translation feature is provided for informational purposes only.

Check License Application Status Service (CLASS). Dougherty agreed to a 12-year state prison sentence, and sentencing is set for April 24, 2020. All you need to know about renewing your non-resident license. Video press conferences, public service announcements, hearings and public forums, Scheduling an appointment with Commissioner Lara, Information about the Department's history and organization, Information about the Commissioner's Appointments to Boards and Committees, Employment opportunities within the Department of Insurance, Contact information for offices and entities, Email Inquiries: cdipress@insurance.ca.gov, Poway conman convicted in $6 million Ponzi scheme, 49 victims scammed over a five-year period, 31 victims were seniors, Copyright © California Department of Insurance, Dougherty agreed to a 12-year state prison sentence, and sentencing is set for April 24, 2020.

Dougherty was charged last April by the San Diego County District Attorney’s Office and has been in custody since then. So, it’s more than just money, it’s their entire lives.”.

Age 45-50 * San Diego, CA .


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Chris G Dougherty.

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He started up several companies, including a 100-acre cattle ranch in Alpine, and continued to attract new investors, partly because of his school district connections, Stephan said. The Ponzi scheme collapsed when investors began to demand their money and Dougherty could not pay it back. Major changes in licensing services division since 2005 including regulations, programs, fees, and such.

IDI is an effort to encourage Supplier Diversity and Governing Board Diversity within California’s insurance industry. In the past, Chris has also been known as Christopher D Dougherty, Christopher Rosales, Chris D Dougherty, Christoph Rosales and Christopher Dougherty. They said he stole the money he was supposed to invest for them.

The Fraud Division investigates suspected fraud committed by consumers or organized criminal elements perpetrated against insurance companies.

SAN DIEGO (KGTV) -- The Poway man at the center of a multimillion-dollar Ponzi scheme was sentenced Wednesday to 12 years in prison. Dougherty leveraged a reservoir of trust he had developed with long-standing clients, convincing them to cash out established, conventional investments and move their money to his fraudulent investments.

>> Subscribe to Times of San Diego’s free daily email newsletter! “We know you are guilty of so much more than securities fraud and grand theft, but we hope when you get out of prison, you make every effort to repay every dime to those people who believed in you,” Biagi said. Chris Dougherty . You may occasionally receive promotional content from the San Diego Union-Tribune. Dougherty shuffled money around in classic Ponzi fashion, paying “profits” to investors with funds received from recent investors.

They believe Dougherty has no remorse for his crimes. The Investigation Division investigates suspected fraud committed by insurance agents, brokers, public adjusters, bail agents, insurance companies and other individuals and entities transacting the business of insurance who perpetrate fraud against consumers. Chris is related to Linda H Dougherty and Jessica Dougherty as well as 4 additional people. Christopher Dougherty, 47, pleaded guilty last week to securities fraud and grand theft charges for masterminding the scam, in which he offered …

Christopher Dougherty was sentenced to 12 years in prison. (San Diego County District Attorney’s Office). Investigators said Dougherty offered victims investment opportunities in companies he owned, then used some of their funds for his personal expenses like home remodeling, travel, and college tuition.

A judge agreed to keep Dougherty’s bail at $5 million, and, at a deputy public defender’s request, to screen him for eligibility to be held in the veteran’s housing in the Vista Jail.

“This wasn’t money that basically fell out of the sky to us. He filed for bankruptcy in October. Producer Licensing Frequently Asked Questions. Things you should know before you buy insurance. This was the product of 50 years of our married life together… of working, saving, putting away money,” Cole said. Depending on the languages, the page layout may look strange from the original.

3:19-cv-00769-JLS-KSC (S.D. He faces up to 35 years in state prison if convicted of all charges, prosecutors said. “Dougherty ruthlessly took advantage of his clients’ trust in order to steal their life savings, causing unfathomable harm,” state Insurance Commissioner Ricardo Lara said. This virtual viewing room allows you to see insurance company rate filings, examination reports, and related information.

They are about the dark side of life,” said victim Cheryl Biagi during victim impact statements Wednesday afternoon. Zachry said the case was “extremely egregious by any standard” and said the impact to the victims went beyond just the dollar amounts.

“Thanks to the great work by Department of Insurance investigators and the San Diego District Attorney's Office, his conviction will bring some level of justice to victims and their families.”. Read information guides specifically designed for seniors.

A poster created by the District Attorney’s Office, displayed Friday at a news conference, shows Christopher Dougherty, charged with investment fraud and theft.

Eventually, District Attorney Summer Stephan said, Dougherty ran out of money and the scheme collapsed.

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Rios, of the San Diego County city of Chula Vista, claims he has a strong defense against those criminal charges because Gill already pleaded guilty, and “is prepared to testify that Mr. Rios was purposely kept in the dark regarding Mr. Gill’s scheme,” according to Rios’ motion for relief from judgment. SAN DIEGO (KGTV) -- The Poway man at the center of a multimillion-dollar Ponzi scheme was sentenced Wednesday to 12 years in prison. Dougherty was a licensed insurance agent for many years, directing investors into typical products such as annuities. Summary: Chris Dougherty is 47 years old and was born on 12/08/1972. Teletypewriter (TTY), please dial 800-482-4833.

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Chris Dougherty in San Diego, CA 20 results - Chris Dougherty may also have lived outside of San Diego, such as Alpine, Fresno and 2 other cities in California.

While the farm was real, it did not actually generate profits for investors. SAN DIEGO COUNTY, Calif. — A judge on Wednesday sentenced a Poway man to 12 years in state prison for a Ponzi scheme that scammed mainly elderly victims out of $6 million. Photo via California Department of … Twenty of the 31 alleged victims identified so far were age 65 or older.

Online Assistance System for Insurer Submittals (OASIS). Poway Man To Be Sentenced For $6 Million Ponzi Scheme - Poway, CA - Christopher Dougherty, 47, pleaded guilty last week to securities fraud … Poway investment adviser charged in nearly $8 million Ponzi scheme - The San Diego … “Thanks to the great work by Department of Insurance investigators and the San Diego (County) District Attorney’s Office, his conviction will bring some level of justice to victims and their families.”. Chris Dougherty Owner/Founder at Yacht Entertainment Services Greater San Diego Area Events Services

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District Attorney Summer Stephan, second from left at table, and Sheriff William Gore, in uniform, were joined at a news conference Friday about a Poway investment adviser charged with grand theft and fraud.

Authorities at a morning news conference said Dougherty was running a “classic” Ponzi scheme that brought in new investors to pay dividends to earlier investors from 2015 to 2018. Review important Alerts, Advisories & Press Releases that impact Seniors. Dougherty filed for bankruptcy in October 2018 and was charged in April 2019 by the San Diego County District Attorney’s Office. Please visit the Department of Insurance website at www.insurance.ca.gov. Subscribe to email newsletters from the Union-Tribune about news, sports, business, opinion and more.

That adviser, Christopher Dean Dougherty, 46, was charged Friday by the District Attorney’s Office with 82 felony counts of theft and fraud.

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