Oct. 30--A Marin County judge awarded $36.8 million in restitution Thursday to 34 families defrauded by a defunct Santa Rosa financial services firm whose founder is serving a 10-year prison sentence.
The ruling represents a remarkable victory for investors in AGA Financial, who for years had been told there was little hope they would recoup any of their millions in losses.
AGA Financial, which collapsed in 2008, was not the target of Thursday's decision. Instead, Judge Roy Chernus ordered the company that gave AGA Financial owners Gary Armitage and Jeffrey Guidi access to employees at Fireman's Fund to pay the damages.