Police have arrested MediLeaf co-founder Goyoko “Batzi” Kuburovich for a multi-million dollar embezzlement “scandal” – however the charges are a separate can of worms from Kuburovich’s harried past that revolves around alleged illegal cannabis sales and money laundering.
Kuburovich, a Gilroy resident and former co-director of medical marijuana dispensaries with locations in Gilroy, Morgan Hill and San Jose that were shut down after law enforcement officers raided MediLeaf offices and founders’ homes in December 2010 – was taken into custody March 23 on accusations of real estate grand fraud.
Kuburovich is charged with four felonies after he allegedly conned a dozen investors, which includes South County residents, out of an estimated $1.3 million according to Victor Chen, Santa Clara County District Attorney who has been following the case since January.
“Everywhere I’ve been tracking this guy, he just leaves a trail of completely cheating people out of their life savings,” said Chen. “And there’s going to be more by the time you publish this story.”
Chen said Kuburovich – who declared bankruptcy in 2010 – posted his $250,000 cash bail after officers arrested him outside his upscale home at 7170 Eagle Ridge Drive in Gilroy. Chen’s phone line has since been “burning up” as more and more people identifying themselves as Kuburovich’s victims come forward, Chen said.
One of Chen’s chief witnesses is a Morgan Hill resident named Allen Hamblin, a self-employed truck driver who foreclosed on his home after he was allegedly “blindsided” by Kuburovich’s business dealings, according to Chen.
Chen described Kuburovich as a “greedy” person who “will probably do prison time before giving back people their money.”
Dressed in a suit and accompanied by a lawyer, Kuburovich made a brief appearance this morning for his arraignment inside Department 105 at the Santa Clara County Superior Courthouse in Morgan Hill. He is charged with one felony count of grand theft over an amount of $250,000, and three counts of aggravated white collar crime for allegedly stealing money while he was an employer of an Arizona-based real estate company called AZ Homes, according to Chen.
Kuburovich’s next hearing is scheduled for April 13 in the same location.
Check back soon for an expanded version of this story. More details to come.
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