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Diane Harkey's sad legacy in Dana Point

News

Investors sue Orange County lender for $15M loss

SANTA ANA Calif. - Investors are suing Orange County real estate lender Dan Harkey for allegedly cheating them out of more than $15 million. Harkey denies wrongdoing and blames the economic melt-down.

The Superior Court suit filed Tuesday in Santa Ana also alleges their money helped fund the election of his wife, Assemblywoman Diane Harkey, R-Dana Point.

The assemblywoman's political consultant Dave Gilliard says she used her own money and had no ownership interest in her husband's Point Center Financial of Aliso Viejo.

The suit says investors in short-term, high-interest loans to real estate developers were beguiled by a slick marketing campaign and exaggerated property values used as collateral by borrowers.

Information from: Los Angeles Times, <http://www.latimes.com>

"Despite public denials from her own Assembly staff, just a few months ago, Diane Harkey disclosed under penalty of perjury an interest of up to $1,000,000 in "Point Center Financial," a company being sued by investors for fraud and under investigation for operating "Ponzi scheme," bilking investors, according to the Los Angeles Times and KNBC News. Harkey's recent mandatory financial disclosures as an elected official now prove her connection to the troubled company and may become evidence in the fraud litigation."

Diane Harkey's sad legacy in Dana Point-

a failed Town Center project;
more government spending;
more regulations;
more city union employees;
fewer businesses.