Four businesses tied to a Santa Maria Valley financial adviser accused of fraud closed abruptly on Tuesday.

Social media posts for Cups & Crumbs, a coffee shop and bakery in Old Town Orcutt and Santa Maria, The Homestead, a deli in Old Town Orcutt, and Central Coast Specialty Foods, also a deli, in Lompoc announced the sudden closures.

“Hello everyone. We are closing early today and will be closed for an undetermined period due to an unforeseen circumstance,” according to identical posts for each Orcutt business. 

“We aim to be transparent with the community and events occurring within our business. We apologize for any inconveniences. Thank you for supporting our business.”

The notices were posted at approximately 11 a.m. Tuesday. 

Opened within the past three years, Cups & Crumbs along with The Homestead quickly became favorites in the Santa Maria Valley and customers lamented the loss.

Likewise, Central Coast Specialty Foods, which Julie Darrah and partners purchased in 2021, had a nearly identical message, which was posted at approximately 1 p.m. Tuesday.

“Hello everyone. After today’s hours we will be closed for an undetermined period due to an unforeseen circumstance. 

“We aim to be transparent with the community and events occurring within our business. We apologize for any inconveniences. Thank you for supporting our business.”

While mentioning transparency, none of the social media posts mentioned the legal morass. 

The businesses are all partially owned by Darrah, who joined with Claudia Stine and Pamela Rowan to form PC&J Joint Ventures LLC to operate the eateries. 

Darrah also worked as a financial adviser in the Santa Maria Valley. 

In a lawsuit filed last month in federal court that names only Darrah, Minnesota-based Wealth Enhancement Group accused her of fraud, breach of contract and more.

Darrah co-founded Vivid Financial Management, which was acquired by Wealth Enhancement Group in late 2021. The announcement said the Central Coast company’s six advisers with offices in in Orcutt, Lompoc and Arroyo Grande “collectively oversee $674 million in client assets.”

WEG contends that Darrah hid key facts about Vivid during the acquisition, with the lawsuit seeking to completely or partially rescind the purchase agreement.

Among allegations, WEG contends that Darrah targeted vulnerable clients and misappropriated several million dollars both before and after the purchase of Vivid.

The lawsuit also maintains that Darrah concealed outside business activities from WEG, including involvement in a deli, bakery, restaurant, sausage company and a concrete company, owning and managing various buildings. 

Some of the outside business activities, or OBAs, are losing money, the lawsuit contends.

“On information and belief, in an effort to keep these OBAs afloat, Darrah has purportedly ‘loaned’ her failing OBAs around $3.6 million, which she apparently has been funding with money that she has been stealing from clients since before the Vivid transaction,” according to the lawsuit.

The lawsuit contends that Darrah’s deception fooled sophisticated financial institutions while targeting vulnerable clients and shielding her actions from colleagues.

Darrah was placed on leave from WEG in the summer and terminated for cause in mid-September.

Because of the legal case, WEG officials provided only a brief statement about allegations included in the firm’s lawsuit against Darrah. 

“We are conducting a thorough internal review with support from outside legal counsel and external experts, and are cooperating with government authorities in their review of the matter,” WEG said in a written statement. “The safety and security of our clients’ assets is our number one priority.”

A Securities & Exchange Commission’s Investment Adviser Public Disclosure noted Darrah’s recent termination, saying it occurred because of an internal review for fraud, wrongful/unauthorized taking of client property and for violations of investment-related securities law including those related to custody of client assets.