San Diego
An investment counselor will be arraigned Feb. 26 in San Diego Superior Court on a charge of grand theft in the defrauding of the UC San Diego Foundation of more than $100,000. Municipal Judge William D. Mudd bound Philip A. Keith of Coronado over for arraignment Tuesday after a preliminary hearing. The district attorney’s office has charged that Keith used the funds “received from the UCSD Foundation without authority for personal loans and other personal and business purposes.” Keith, a former investment counselor for La Jolla Securities, has pleaded innocent. In August, the foundation sued the firm for “negligently hiring and supervising Keith,” claiming he had misappropriated $413,477 in foundation money. Keith wasn’t sued because he had agreed to repay $100,000 that the foundation had been unable to retrieve.
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