Woman Charged With Violating Laws on Sales of Securities
The mother of the chief executive of Lochmiller Mortgage Co. was charged Thursday with 24 counts of unlawful security sales.
Jo Alice Lochmiller is expected to surrender next week.
Her son, Stephen Lochmiller, 31, is serving a four-year state prison term after pleading guilty last year to 24 counts of security sale violations.
The charges filed against Jo Lochmiller are based on the sale of unregistered corporate notes of Lochmiller Industries Inc. to investors during 1982, before the firm went bankrupt.
San Diego Municipal Judge Fred Link issued an arrest warrant, but Jo Lochmiller is working out an agreement with her attorney, Peter Hughes, about surrendering at her arraignment next week.
About 1,600 investors lost money in the Vista-based real estate firm. The losses have been estimated by authorities at $5 million, the amount invested in the company.
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