News


CEO, employees charged with fraud, theft, conspiracy

Former financier arrested while in court for attacking roommate

Editor's note: On Aug. 6, 2014, William Hogarty, 50, a former Livermore mortgage broker, entered a plea of "no contest" and was found guilty of a misdemeanor crime, a violation of California Civil Code section 2944.6, according to court documents and the District Attorney's office. After stipulating to the factual basis of the 12 felony counts of fraud, three counts of theft and one count of perjury, which he was charged with in April 2013, all felony counts were dismissed. Section 2944.6 requires certain specific written disclosures to borrowers prior to mortgage loan modifications. Alameda County Deputy District Attorney David Lim, who prosecuted the case, said that restitution was the goal of the agreement. Hogarty agreed to pay a total of $56,125 to 12 victims from Alameda County. Sentencing is set for November 18.

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A former financier was set for a preliminary hearing Monday on an allegation of attacking and threatening his former roommate at his Livermore mansion. Instead, he was led from the courtroom in handcuffs, facing 12 new counts of real estate fraud, three counts of criminal conspiracy and one count of perjury.

That's in addition to a civil case filed by several people who claimed he defrauded them and they lost their homes as a result.

The financier, William Hogarty, 49, is the owner of the now defunct OF Lending, which claimed to do short-pay refinancing (SPR), allowing homeowners who were underwater on their homes to renegotiate with their banks.

(Portion of original story removed.)

Court documents claim Hogarty and co-defendants James Allen Rivera Jr., Gregory Wayne Lomba and James Torpey conspired to defraud people of their property, that they conspired to commit false advertising, and conspired to collect advance fees.

The four are also charged with a combined 12 counts of grand theft, for taking more than $69,000 from clients who hoped to save their homes.

(Portion of original story removed.)

In a recent interview with the Pleasanton Weekly, He said he was not responsible for any of the losses to OFL's clients.

"None of these clients were my clients. They were all agents' clients," he said, blaming Rivera for the misdealings. "He was the man behind 80% of the problems. I paid dearly for that."

He also blamed the victims, saying some of them now say they don't know what they signed.

He appeared on a Bay Area television show, "View from the Bay," in January 2010, where he promoted his company, and claimed he'd saved one woman $370,000 by doing a short-pay refinance. On the show, he advised people to never submit false or untruthful information.

"The truth is always best," he told the show's hosts.

Hogarty, Rivera, Lomba and Torpey also face additional time under a California enhancement that increases possible prison time for white collar crimes. The four, court documents say, had a "pattern of related felony conduct" that involved "the taking of and results in the loss by another of more than $100,000."

The 2005 Mr. California Bodybuilding Champion, still faces felony aggravated assault and threats charges, in which his former roommate claims he was choked until he nearly blacked out. The preliminary hearing was postponed when he was arrested on the new charges.

He has since been released on bail, and the $250,000 bond from his criminal charges was renewed. Lomba and Torpey were each being held on a $100,000 bond, and Rivera could not be located.

In the civil case, 22 people have claims under the lawsuit that now includes him. Virtually every employee of the company was named in the suit, -- along with Riviera, Tiffany Carr and Lomba. That case alleges clients paid upfront fees ranging from $1,200 to $12,000, for the company's short-pay refinancing services.

At least three people have already won judgments against him.

He sold his home in a short sale, exactly the kind of deal he told clients they could avoid. The 12,978-square-foot mansion, with eight bedrooms, a 12-car garage and swimming pool was promoted as Northern California's answer to the Playboy mansion. It was the scene of risque parties, such as the Fallen Angels Lingerie Party and Mardi Gras at the Mansion. He said those parties were in full compliance with the law.

Comments

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Posted by Anonymous
a resident of Downtown
on Apr 22, 2013 at 6:14 pm

I'm so pleased this is finally all catching up with him. Great reporting. Please continue to update frequently.


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Posted by Member
a resident of another community
on Apr 23, 2013 at 9:27 am

[Removed]

Ton's more detail in this article versus the local ABC 7 channel - nice work by Glenn Wohltmann and the Pleasanton Weekly Staff!


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Posted by anon
a resident of Another Pleasanton neighborhood
on Apr 23, 2013 at 10:47 am

Per his facebook he was just on a weeks vacation with his wife. I see he was able to bail out of santa rita, but his 3 conspirators could not.

He is finally getting what he deserves.


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Posted by Bolly
a resident of Mission Park
on Apr 23, 2013 at 11:15 pm

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Posted by noname
a resident of Amador Estates
on Apr 24, 2013 at 4:27 pm

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Posted by SCAMMED AND CHEATED
a resident of Dublin
on Apr 24, 2013 at 4:39 pm

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Posted by Me
a resident of Another Pleasanton neighborhood
on Apr 24, 2013 at 5:24 pm

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Posted by Judy Jacobs
a resident of Livermore
on Apr 24, 2013 at 8:45 pm

It warms my heart to hear that Hogarty and his entire clan are finally getting what they deserve. I was one of the first people to file claims against OF Lending and his brainless followers. I filed claims with every agency I could, including the DA and the Board of Real Estate. I did a huge amount of research on Hogarty. Unfortunately, it was after he stole $6,000.00 from me in one of his refinance scams. [Portion removed.]


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Posted by Arnold
a resident of Another Pleasanton neighborhood
on Apr 24, 2013 at 10:13 pm

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Posted by Judy Jacobs
a resident of Livermore
on Apr 24, 2013 at 10:41 pm

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Posted by Judy Jacobs
a resident of Livermore
on Apr 24, 2013 at 10:50 pm

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a resident of Another Pleasanton neighborhood
on Apr 24, 2013 at 11:00 pm

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on Apr 25, 2013 at 7:00 am

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Posted by Seymour Crooks
a resident of Another Pleasanton neighborhood
on Apr 25, 2013 at 9:16 am

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Posted by william hogarty
a resident of Laguna Oaks
on Apr 26, 2013 at 3:06 pm

william hogarty is a registered user.

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Posted by XXXXX
a resident of Another Pleasanton neighborhood
on Apr 26, 2013 at 9:17 pm

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Posted by william hogarty
a resident of Laguna Oaks
on Apr 26, 2013 at 11:03 pm

william hogarty is a registered user.

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on Apr 27, 2013 at 4:10 pm

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Posted by william hogarty
a resident of Laguna Oaks
on May 8, 2013 at 7:38 am

william hogarty is a registered user.

Good morning. My family and I have been silent for the last 2 years as we were un sure as to how to handle all this. First all I am truely sorry for all this. We attempted to help people save their homes and the large banks said no. It was not for a lack of effort. We will go public after the last matter is behind us. It is amazing how alligations and rumors by animious people are looked at as true. For instance, Judy Jacobs, we paid her back and we have the canceled check. For the life of me, I cannot understand so much upset by her when she was paid back. I have the checks in a jpg and more than happy to post if Livermore Patch allows.

I am very sorry for this mess, yet the country is far from clear of the recession and frankly it is because banks wont help people


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on May 12, 2013 at 12:28 am

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on May 12, 2013 at 12:30 am

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