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Former EDH man nabbed in real estate fraud scheme
Richard R. Betchley a 60 year old former El Dorado Hills resident was arrested in Laguna Beach on 28 felony charges including grand theft securities fraud and tax evasion. Authorities say he solicited about 16 local investors collecting 50 000 to 100 000 each and diverted funds for self use and a nonexistent Serrano home project. He faces roughly 30 years in prison if convicted and was held on 5 million bail.
MENTIONED IN THIS ARTICLE
el Dorado Hills
Richard R. Betchley
Betchley
Laguna Beach
el Dorado County
Clinchard
Serrano