The Securities and Exchange Commission has filed charges against a Santa Maria woman who is accused of defrauding her clients out of millions of dollars.
According to the SEC's complaint, Julie Darrah and her firm, Vivid Financial Management, misappropriated approximately $2.25 million from at least nine clients.
The complaint alleges that Darrah primarily targeted elderly women, including one client who lives in a memory care facility.
The SEC says Darrah gained control of her victims' assets by various means, including becoming the signatory on their bank accounts and/or obtaining power of attorney over their property and accounts.
She then allegedly transferred the victims' money to her personal bank accounts and used the funds to buy and improve real properties, pay her personal expenses, buy luxury vehicles, and buy and operate restaurant businesses at a loss, according to the SEC.
Darrah reportedly agreed to the entry of a preliminary injunction against her and her assets have been frozen.
This week, three local businesses that Darrah co-owns announced their closure on social media.
In posts on Instagram, Cups & Crumbs and The Homestead Deli in Orcutt, and Central Coast Specialty Foods in Lompoc said that they would be closed for "an undetermined period of time due to an unforeseen circumstance."
Darrah also faces a lawsuit filed in September by Minnesota-based Wealth Enhancement Group, which acquired Vivid Financial Management in 2021, accusing her of stealing millions of dollars from clients over the past two decades.
KSBY News attempted to reach out to Darrah for comment on Wednesday but did not receive a response.
