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SAN DIEGO (CNS) - The CEO of a La Jolla-based financial services firm pleaded guilty Wednesday to defrauding shareholders, falsifying tax returns and operating an unlicensed money services business.David Nava, head of Surf Financial Group LLC, worked with others to convert publicly traded companies' debt into unrestricted stock under false pretenses, and then sold the stock, despite being banned since 1994 by federal securities regulators from taking part in the securities industry, according to federal prosecutors.Prosecutors say Nava, 62, directed others to write fraudulent attorney opinion letters that facilitated removing restrictions on stocks so they could be sold, in circumvention of the U.S. Securities and Exchange Commission's regulations on the offer and sale of securities.The Department of Justice said brokerage firms cleared the sale of shares of the restricted stocks on the basis of those letters, allowing Nava and others to sell millions of shares, then move the proceeds into bank accounts under his control.In addition to his plea to a federal count of conspiracy to commit securities fraud, Nava also pleaded guilty to operating an unlicensed money transmitting business, which he used to move millions of dollars in financial proceeds, and a tax fraud count for falsifying federal tax returns from 2014 to 2016, in which he underreported Surf Financial's profits in order to conceal his true income and tax liability, according to the Department of Justice.Sentencing is slated for Jan. 8 in San Diego federal court. 1556

SAN DIEGO (CNS) - The San Diego Armed Services YMCA hosted neighborhood food exchange event Thursday to combat hunger among local military members and their families.The event was open to active duty military members and their families who meet federal income requirements for emergency food assistance. The ASYMCA holds food exchange events on the fourth Thursday of each month from January to October and the third Thursday in November and December.``There is never enough that we can do for our military families and this is just one simple way to thank them for their service,'' said ASYMCA Executive Director Tim Ney. 630

SAN DIEGO (CNS) - San Diego Mayor-Elect Todd Gloria Friday announced the selection of the top leadership posts for his incoming mayoral administration."I'm proud to announce the appointments of Paola Avila, Nick Serrano and Jay Goldstone to the Gloria administration," he said. "They are a team of talented, dedicated and experienced public servants who will help me lead our city, especially through COVID-19 and get us back on track. I want to thank them for their willingness to step up and serve the people of San Diego."Avila was named Chief of Staff. She has more than 20 years of experience in public policy, community outreach and government relations, including prior service in the mayor's office as deputy chief of staff to Mayor Dick Murphy. Avila is a graduate of the University of California San Diego and lives in Bay Park.Serrano was named deputy chief of staff. A top advisor in Gloria's leadership team for years, he served Gloria in both his City Council and Assembly offices -- most recently as director of communications on Gloria's Assembly staff. He has worked in more than a dozen communities in San Diego as a community representative, is a graduate of San Diego State University and lives in downtown.Goldstone was named interim chief operating officer. He has more than 37 years of local government finance and management experience. He was previously San Diego's COO from 2008-2013 and the city's chief financial officer from 2006-2008 and 2012-2013. Prior to San Diego, Goldstone served as director of finance for Pasadena and Richmond, California. He earned a bachelor's degree in political science, economics and business administration from the University of Minnesota, a master's degree in public administration from Arizona State University and a master's degree in business administration from Santa Clara University.Upon being sworn in as the 37th Mayor of the city of San Diego, Gloria said he intends to conduct a national search to find a permanent COO for the city. Additional appointments to the Gloria administration will be named in coming weeks. 2097

SAN DIEGO (CNS) - The driver of a minivan was sought this morning for leaving the scene of a Middletown hit-and-run that left a 66-year-old bicyclist hospitalized with a life-threatening head injury, police said.The victim was riding near the intersection of India and West Washington streets at 1:30 p.m. Friday when he was struck by a blue or gray 2005 Dodge Caravan, Georgia license number RRJ7004. The vehicle may have a shattered windshield or front-end damage, according to San Diego police.Following the collision, the driver of the minivan fled, possibly back toward Interstate 5, police said. SDPD later released witness video of the incident, showing a driver and two passengers.The name of the victim was not disclosed. 738

SAN DIEGO (CNS) - The proposed .8 billion budget that San Diego Mayor Kevin Faulconer unveiled today includes the most infrastructure spending in city history, and prioritizes public safety, street repair and recreation centers, as well as initiatives to fight homelessness and illegal dumping.The spending blueprint also closes a million deficit without significant cuts to major programs, according to the mayor."We're continuing to put neighborhoods first by maintaining the key services we've restored in recent years," Faulconer said. "This balancedbudget will keep our foot on the pedal when it comes to fixing more roads, helping people into stable housing, keeping libraries and rec centers open for children, creating more housing affordability for working families and putting more police officers on the street to protect our communities."The budget proposal includes the largest recruitment and retention package in San Diego Police Department history, the equivalent of 390 miles of street repair and the highest level of library and rec center operating hours in a decade, according to the mayor's office.It also reserves 3 million for initiatives related to the Climate Action Plan, including 1 million to advance the Pure Water San Diego water recycling program. The proposed capital improvement budget of 3 million, including million for street repairs, would represent a large boost over last year's total of 5 million, and triple the amount of infrastructure spending during fiscal year 2014.More than .3 million in proposed SDPD pay hikes would presumably help fill vacant positions within the department, and 6,000 would be earmarked for SDPD's new Neighborhood Policing Division, intended to reduce chronic "quality of life" crimes often related to homelessness.The Vision Zero program, created to improve biker and pedestrian safety, would receive million to improve sidewalk, signal and crosswalk infrastructure. Nearly million would go toward homeless services, including three large tent shelters, a year-round Father Joe's interim housing program and the new Housing Navigation Center.City officials expect only modest revenue increases of 3, 5.3 and 5.5percent from sales, hotel and property taxes, respectively, during fiscal year 2019. Faulconer proposes balancing the budget with .1 million in cuts across various departments, .3 million in projected surplus from the current fiscal year budget and .6 million in excess funds from select reserve accounts.City Councilwoman Barbara Bry, chair of the council's Budget and Government Efficiency Committee, lauded the proposed spending plan."The mayor is proposing zero impacts to core services and fiscal year2019 looks strong," she said. "Today is the beginning of the budget process and as budget committee chair, I am excited to encourage San Diegans to actively participate in this process."Faulconer will present the proposed budget to the council at 2 p.m.Monday, and the council will hold a series of all-day public hearings in May before adopting a final budget in June. 3112