Failed Firm Ordered to Stop Breaking Law
- Share via
HUNTINGTON BEACH — State authorities have ordered Tobin Investment Corp. to stop violating real estate laws, an action that is largely symbolic since the investment company shut down early this year, leaving investors with up to $60 million in losses.
The state Department of Real Estate issued its desist and refrain order against the defunct Huntington Beach operation, former owner Harold E. (Hal) Tobin and sales representative J. Chris Reynolds.
The company and Tobin were accused of employing an unlicensed salesman--Reynolds--misdirecting $84,500 in investors’ trust funds, failing to give investors proper disclosure statements, and violating other laws. Reynolds was accused of acting as a sales agent without first obtaining a real estate license. Tobin moved to Las Vegas after shutting down the company.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
