People v. Adams CA4/3

FACTS AND PROCEDURAL HISTORY1

In 2007, the victims, Gary and Pamela Ziebarth (the Ziebarths), co-signed a $600,000 line of credit for Adams and his wife to improve a residential property in Costa Mesa. Adams failed to repay the loan. To protect their credit, the victims paid off the entire $600,000 debt in 2008 and subsequently sued Adams civilly. The Ziebarths ultimately prevailed in their civil suit. While the civil litigation was pending, Adams engaged in a scheme to create the appearance that he had no equity in the Costa Mesa property, thereby preventing the victims from collecting on any future judgment. On December 20, 2013, Adams created a Wyoming limited liability company named “Chase One, LLC.” That same day, he recorded a fraudulent deed of trust against the property in favor of Chase One, LLC, purporting to secure a debt of $228,000. No such debt existed; Adams controlled the entity. Later that same day, Adams’s wife filed for bankruptcy.

1 The defendant’s request for judicial notice is granted.

2 When the victims attempted to enforce their rights through the bankruptcy proceeding, Adams engaged in perjury to conceal his scheme. In February 2016, Adams testified in…