Date: 12-10-2019

Case Style:

Case Number: 4:18-cr-00415-JD

Judge: James Donato

Court: United States District Court for the Northern District of California (Alameda County)

Plaintiff's Attorney: Katherine Lloyd-Lovett

Defendant's Attorney:

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Description: Oakland, CA - The United States of America charged Terrence Patrick Goggin with money laundering.

Terrence Patrick Goggin pleaded guilty to money laundering.

Goggin, 78, of San Francisco, is a former California State Assemblyman and current California-licensed attorney. According to his guilty plea, he admitted that, in 2013 and 2014, he was the founder and CEO of Metropolitan Coffee and Concession Company, LLC (“MC2”). From July 2007 to February 26, 2014, Goggin solicited investor money to build Peet’s Coffee retail centers, including two future centers that he claimed he would build at the Civic Center and Balboa Park BART stations. The investors for the MC2 projects included a group of four private equity investors who provided financing in September 2013 of $585,000 for the Civic Center project and an individual who invested $100,000 in September 2013 for the Balboa Park project. Goggin falsely represented to those investors that their money would be used to build out those specific future Peet’s Coffee retail centers, when, in truth, he planned to use the funds for other purposes. Goggin further admitted that he also failed to provide the investors with accurate information about the relationship between MC2 and BART and about the state of MC2’s finances. In addition, Goggin admitted that in September 2013 he diverted, and directed his employees to divert, nearly all of the $685,000 in investment funds to other business bank accounts associated with business ventures into which the investors had not agreed, or intended, to invest. Among other transfers, on September 12, 2013, the same day MC2 received $585,000 from the private equity investors, Goggin knowingly directed the transfer of $15,000 from the MC2 bank account to the business bank account of Aegis Atlantic LLC, a Delaware company of which Goggin was also CEO. That money was never used for the agreed-upon BART projects and was instead spent on other purposes.

On September 13, 2018, a federal grand jury returned a superseding indictment charging Goggin with four counts of wire fraud, in violation of 18 U.S.C. § 1343, and nine counts of money laundering, in violation of 18 U.S.C. § 1957. Under the plea agreement, Goggin pleaded guilty to one count of money laundering and agreed to pay restitution of at least $685,000.

Goggin remains free on bond, pending sentencing. Judge Donato scheduled Goggin’s sentencing hearing for April 1, 2020. Goggin faces a maximum statutory penalty of ten years in prison and a fine of $250,000, plus restitution, for the money laundering conviction. However, any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

The prosecution is the result of an investigation by the FBI and the IRS-CI.

Charges:

18:1343: Wire Fraud
(1s-4s)
18:1957: Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity
(5s)
18:1957: Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity
(6s)
18:1957: Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity
(7s-13s)

Outcome:
12/04/2019 46 CLERK'S NOTICE of Referral to Probation as to Terrence Patrick Goggin (lrcS, COURT STAFF) (Filed on 12/4/2019) (Entered: 12/04/2019)
12/04/2019 47 PLEA AGREEMENT as to Terrence Patrick Goggin (lrcS, COURT STAFF) (Filed on 12/4/2019) (Entered: 12/04/2019)
12/04/2019 48 Minute Entry for proceedings held before Judge James Donato: Change of Plea Hearing as to Terrence Patrick Goggin held on 12/4/2019. Plea entered by Terrence Patrick Goggin (1) Guilty as to Count 6s. Sentencing set for 4/1/2020 at 10:30 AM in San Francisco, Courtroom 11, 19th Floor before Judge James Donato. (Court Reporter: Belle Ball.) (jlmS, COURT STAFF) (Filed on 12/4/2019) (Entered: 12/09/2019)

Plaintiff's Experts:

Defendant's Experts:

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