The hosts of some financial investment radio shows in Ventura County received long prison sentences, after both entered guilty pleas to a series of fraud, and embezzlement charges.
Kenneth Powell of Thousand Oaks, and Katie Rose of Woodland Hills hosted paid informercial programs called “Ken & Katie,” “Academy of Real Estate,” and “Money Intelligence.”
Prosecutors say the two used the shows to solicit people for investments supposedly secured by real estate in Ventura, Santa Barbara, and Kern Counties.
But, the deeds of trust issued to investors were almost worthless, and they lost millions.
Powell was sentenced to 18 years in prison, and ordered to pay $4.3 million dollars in restitution, while Rose received a 12 year sentence, and was ordered to pay $3.4 million in restitution.