Ventura Couple Held in Alleged Investing Scam

A Ventura couple were arrested Thursday on suspicion of bilking investors in their farming businesses out of millions of dollars, authorities said.

Brenda Paak Willingham, 52, and Dennis Willingham, 45, were arrested in Oxnard and are being held in lieu of $4 million bail each, said Ventura County Deputy Dist. Atty. Eric Dobroth.

According to Dobroth, the Willinghams persuaded people to invest in their businesses, Sunshine Fresh Produce of Oxnard and Willingham Farms of Ventura and Santa Barbara counties. He described Willingham Farms as a strawberry-growing operation and Sunshine Fresh as a berry brokerage company.

Many of the investments were procured through false statements or factual omissions, Dobroth said.

Clients usually would invest $10,000 to start, but many increased their financial interest, with some losing more than $100,000, he said.

The warrants issued Wednesday alleged that 38 people invested more than $8 million, but the couple listed more than 600 unsecured creditors in individual and business bankruptcy petitions filed in 2001, Dobroth said.

Both of the Willinghams face 37 felony counts of selling unqualified securities, with each count carrying a maximum prison term of three years. They will also both be charged with 35 felony counts of selling securities by misrepresentation or factual omission, with each count carrying a maximum term of four years, the prosecutor said.

In addition, Brenda Willingham is accused of violating a Department of Corporations order prohibiting her from selling such securities. The arrests followed a two-year investigation by the district attorney’s fraud unit.