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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 FBI reached out to the public Friday for help in identifying a man who carried out two El Cajon bank robberies in recent weeks.The thief, believed to be 50 to 60 years old, handed threatening demand notes to tellers at a Mission Federal Credit Union office in the 700 block of North Johnson Avenue on the morning of Sept. 14 and at a Wells Fargo branch in the 2300 block of Jamacha Road on Tuesday afternoon, according to the 455

SAN DIEGO (CNS) - The Cajon Valley Union School District has joined 17 other California school districts in filing lawsuits against Juul for marketing its e-cigarettes and related products to children, attorneys said Tuesday.The suit is one of several recently filed against the San Francisco- based vaping company, which could not immediately be reached for comment regarding the litigation.Cajon Valley Union's suit is one of three filed by San Diego County school districts, joining San Diego and Poway Unified.RELATED: San Diego Unified School District suing JUULThe lawsuits allege negligence and nuisance on the part of Juul, claiming its advertising campaigns targeting young people have caused an e- cigarette "epidemic," which has "severely impacted" the school districts by interfering "with normal school operations."The school districts are also seeking compensatory damages to offset financial losses the districts allege resulted from vaping-related student absences, as well as extensive costs the districts incurred to establish outreach and education programs regarding vaping and enforcement infrastructure such as vape detectors, surveillance systems and extra staff to monitor e- cigarette use among students."The youth vaping epidemic created by Juul has significant costs," said John Fiske, shareholder for plaintiff's attorneys Baron & Budd. "These 18 school districts represent and serve over 1 million students and have taken on an extreme financial burden in order to try and stop the pervasive vaping on their campuses and keep their students safe."RELATED: California sues e-cigarette maker Juul over ads, youth salesPlaintiffs' attorneys claim Juul controls more than 70 percent of the e-cigarette market, and has grown rapidly due to targeting school-age children."Holding Juul accountable for its deceitful marketing practices targeting our youth is the first of many steps in rectifying the damage created by the e-cigarette manufacturer," said Rahul Ravipudi, partner at law firm Panish, Shea and Boyle, LLP. "We're ready to see this fight through until justice is served." 2118

SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County dropped Saturday for the 19th consecutive day and the 31st time in 32 days, decreasing a half-cent to .612.The average price has dropped 22.6 cents over the past 32 days, including six-tenths of a cent Friday, according to figures from the AAA and Oil Price Information Service.The average price is 3.7 cents less than one week ago and 22.2 cents lower than one month ago, but 40.1 cents more than one year ago. It has risen 49 cents since the start of the year.RELATED: Find the cheapest gas in your neighborhoodSouthern California gas prices are dropping at a fairly steady pace from their highest levels since 2014 but are expected to still be 50 to 60 cents higher per gallon than during last year's holiday. The vast majority of Southern California travelers -- 3.6 million or 86 percent of all travelers -- drove to their Thanksgiving destinations, a 5.1 percent increase over last year. 1012

SAN DIEGO (CNS) - The San Diego City Council voted 5-4 today to extend the rent repayment period for commercial and residential renters to Dec. 30, giving renters who have lost income due to the COVID-19 pandemic a few extra months to repay back rent.Council President Georgette Gomez's initial motion Tuesday would have extended the repayment period for the eviction moratorium to March 31, 2021. Councilwoman Jennifer Campbell amended the motion to the December date as a compromise.On March 25, the council voted unanimously to begin an emergency eviction moratorium for renters. The moratorium requires renters to demonstrate through documentation that the pandemic has caused ``substantial loss of income,'' according to city staff. Renters are also required to follow rules in leases, but landlords cannot evict a tenant for nonpayment due to COVID-19.The moratorium expires Sept. 30. If tenants are in good standing with landlords, they can work out a repayment plan for back rent through Dec. 30, but otherwise things could get dicey for tenants.``We are all in it together,'' Gomez said before discussion of the motion. ``The economy is not fully restored. This is not an ideal policy, but it's a necessity for what we are dealing with.''Gomez represents District 9, which encompasses Southcrest, City Heights, Rolando and the College area. It has also been one of the most impacted areas during the pandemic.According to a member of Gomez' staff -- which gave the presentation on the topic -- the city had started 15,659 rental relief applications using federal Coronavirus Aid, Relief, and Economic Security Act funds. Disbursements from that pool of relief money are scheduled to be handed out in late August or early September. Those funds will go directly to landlords, however, and not renters.Council President Pro Tem Barbara Bry voted no on the motion Tuesday, not because she didn't agree that people needed help paying rent, but because the arbitrary nature of the rental relief program could leave the city open for lawsuits, she said. She added that not enough renters know the impact of not paying rent.``It's a cruel hoax,'' she said. Bry said that by not paying rent on time, tenants could be destroying their credit and leaving themselves with mountains of debt and no place to turn once the moratorium ends.In a public comment period, several dozen San Diegans called in, many urging the council to extend the moratorium -- which was not the motion in front of council -- and many to forgive rent and mortgages outright. About an equal number of landlords called in to urge the council to allow for evictions again, as many said they were paying two mortgages and not receiving income.The repayment plan extension to December will pass a critical few months, including local, state and national elections. On Nov. 3, San Diego voters will select a new mayor and five new members of its City Council -- something that could cause significant shakeup in how the city is run.``I think in three more months we will be able to tell better what the future holds,'' Campbell said. Councilmembers Chris Cate and Scott Sherman were opposed to the extension on legal grounds, as the gap between when the moratorium was passed to the date proposed in Tuesday's initial motion would have been more than a year. They claimed this could cause trouble for landlords trying to evict delinquent tenants or to collect back rent.Because the repayment extension passed with just five votes, it is susceptible to a possible veto by Mayor Kevin Faulconer. A six-councilmember vote would have made it ironclad. 3622