Tue04152014

News

Late postal hours help last-minute filers

Late postal hours help last-minute filers

The crowd at Los Altos' post office wasn't epic when we checked today – but come tax day tomorrow (April 15) many locals may be lining up to file at the last minute.

Post offices in Los Altos and Mountain View stop collecting mail at 5 p.m. tomorr...

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Schools

Loyola School hosts STEM Expo

Loyola School hosts STEM Expo


Ellie Van Houtte/Town Crier
Ari Garabedia, above right, demonstrates his team’s project for curious classmates at Loyola School’s STEM Expo.

Some local schools are taking a different twist on the traditional science fair this year.

As a pilot p...

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Community

Chef Pépin to sign books in Los Altos

Chef Pépin to sign books in Los Altos

Master chef, author and educator Jacques Pépin is scheduled to make a personal appearance in Los Altos April 24. The “original Iron Chef” will be signing copies of his most recent books 3-5 p.m. at Main Street Café and Books, 134 Main St. The interna...

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Sports

Fruitful day on the Farm

Fruitful day on the Farm


Ellie Van Houtte/Town Crier
Los Altos High’s Brian Yeager soars in the triple jump at the Stanford Invitational Saturday.

Last weekend’s Stanford Invitational attracted the best high school track and field athletes in the region, including sever...

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Comment

The mysterious force in Los Altos: The Rockey Road

Shh ... it’s a secret. No it isn’t! I recently read a story in another paper asking if Google cash were behind the Los Altos downtown makeover and why. My first thought was, “Who cares?” We are an intelligent group in a small town where it is very di...

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Special Sections

Jewish food festival reaches beyond bagels

Who knew you could get a decent knish in Silicon Valley?

For at least one day, local foodies are gathering 10 a.m. to 5 p.m. April 27 at the Hazon Jewish Food Festival at the Oshman Family Jewish Community Center in Palo Alto to eat their way throug...

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Business

For the skin they're in : Shared interest in organic skin care leads duo to form company

For the skin they're in : Shared interest in organic skin care leads duo to form company


Ellie Van Houtte/town Crier
Nancy Newsom, left, and Kit Gordon started Botanic Organic in 2011 after they discovered a shared passion for creating organic, handmade skin-care products. The company now offers more than 15 products for adults and infa...

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Books

Local Author Spotlight

In an effort to support authors from Los Altos, Los Altos Hills and Mountain View, many self-published, Book Buzz periodically spotlights their books and offers information on where to purchase them. Local authors are encouraged to submit brief summa...

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People

Noteworthies

Noteworthies


Courtesy of Rob McCullough
The American Watercolor Society’s International Exhibition in New York features Jane McCullough’s “The End of the Game.”

Watercolor Society selects Los Altos artist’s work for display

The American Watercolor Society...

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Travel

Sausalito: Explore the historical city with world-class views

Sausalito: Explore the historical city with world-class views


Eren Göknar/ Special to the Town Crier
Sausalito offers panoramic views of the San Francisco Bay. A number of companies schedule boat tours that sail past Angel Island and Alcatraz.

On a clear day, Sausalito offers spectacular views of the San Franc...

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Stepping Out

LA Stage Company's 'Harold and Maude' opens this weekend at Bus Barn Theater

LA Stage Company's 'Harold and Maude' opens this weekend at Bus Barn Theater


courtesy of Los Altos Stage Company
Warren Wernick and Lillian Bogovich play the title characters in the Los Altos Stage Company production of “Harold and Maude.” The play runs through May 4.

The Los Altos Stage Company’s production of “Harold a...

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Spiritual Life

Silicon Valley Prayer Breakfast highlights matters of faith

Pat Gelsinger and Reggie Littlejohn come from different backgrounds and occupations, but both, guided by their Christian faith, have become leaders committed to helping others. The two shared their experiences at the 20th annual Silicon Valley Prayer...

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Magazine

A yoga class a day keeps the stress away

A yoga class a day keeps the stress away


Van Houtte/Town Crier Yoga of Los Altos hosts a variety of classes, including Strong Flow Vinyasa, above, taught by Doron Hanoch. Yin Yoga instructor Janya Wongsopa guides a student in the practice, below.

It’s nearly 9 a.m. on a Monday mornin...

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Judge rules against local businessman in Ponzi-like case

After a year of back-and-forth, a judge concluded this week that Los Altos resident Mark Feathers and his company, Small Business Capital Corp., violated federal securities and exchange laws.

U.S. District Judge Edward J. Davila accepted Securities and Exchange Commission evidence that because of fraud and mismanagement, SB Capital’s 400 investors have lost approximately 25 percent of the $42 million they invested.

In an order filed Friday, Davila granted the SEC’s request for a summary judgment and denied Feathers’ competing request for the same. He ordered the “disgorgement of ill-gotten gains” and set a hearing date Oct. 22 to consider “what remedies are to be granted and in what amounts.”

A court renders a summary judgment when a judge finds no genuine dispute as to any material fact – in other words, when evidence appears so conclusive as to not require a full trial. Representing himself and his company, Feathers had to show what Davila called a “genuine issue for trial.” In his order, Davila laid out why Feathers’ submissions to the court did not meet that standard and discussed to what extent the court had to cut Feathers some slack – to “liberally construe” his submissions – because he represented himself without a lawyer. Evidence submitted to the court must include affidavits or “other evidentiary material,” and Davila described Feathers’ submissions as falling short of that standard.

“I have been outnumbered by a large margin in the manpower necessary to present facts, never mind putting them into the right legal framework,” Feathers told the Town Crier in an email.

He wrote to investors that he would appeal the judgment.

Investors, many of them Los Altos residents, bought into two mortgage investment funds Feathers managed from an office on San Antonio Road. The SEC contended that Feathers transferred money from the funds to pay expenses and make cash distributions to investors that masqueraded as “returns on investment,” maintaining an illusion of profitability.

SEC attorney John Bulgozdy described the process of using investor money to pay returns as “Ponzi-like.” Feathers maintained that because he disclosed the loans and transfers to investors, his actions were aboveboard and not in fact evidence of fraud and misrepresentation.

Feathers submitted hundreds of documents including SB Capital paperwork and emails to the court, but Davila wrote that Feathers didn’t indicate with sufficient specificity what he believed they proved – “It is not the task of the court to comb through the record in search of genuine issue of triable fact.”

In his order, Davila referenced testimony from an auditor and a consultant suggesting that Feathers loaned himself money from the funds, then documented it in a way that made the business appear to still be generating profit.

Davila had to weigh whether a “reasonable investor” might have made a different decision with his or her money if he or she had known about the loans and money transfers at SB Capital. He concluded, based in part on declarations two investors made to the SEC, that investors might have withdrawn their investments if they had known what the company was doing.

Davila declared that Feathers’ accounting demonstrated an intent to deceive or, at a minimum, “extreme recklessness in his management of the (f)unds.”

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