Company owner arrested
A Lompoc man was arrested July 10 and charged with 147 felony counts of selling securities under a misrepresentation, grand theft and forgery.
Santa Barbara County law enforcement officials booked Michael Lee Wilson of Pacific Coast Mortgage in county jail. Investigators searched his home and another business location in Lompoc, officials said in a press release.
The District Attorney’s office said the felonies listed in the complaint against Wilson carry a maximum sentence of 50 years in state prison.