Family members who run a San Diego, California, pool construction business have been accused of taking thousands of dollars without finishing the work.
Josh Marshall, his sister, Jessica Marshall, and their father, Jack Marshall, are accused of disappearing with their customers’ money without completing construction of swimming pools throughout San Diego County, according to court documents filed this October.
The family members have pleaded not guilty to multiple felony counts.
“Construction funds were diverted, meaning that homeowners gave one of the Marshalls funds for some part of their pool project and they didn’t receive anything in return,” said Kathryn L. Turner, Deputy District Attorney with San Diego County’s Economic Crimes Division. She added that 17 customers are named in the complaint.
David Giles is among those named. According to the complaint, after paying $113,000 of a $130,000 contract, Giles has been left with a dirt hole in his backyard.
Since then, he’s found out that he’s not alone.
Stephanie Vaughan says she refinanced her home to pay Superior Pools $150,000 for an incomplete pool.
“I can’t look at my backyard,” Vaughan said. “I need to just catch my breath.”
If convicted, Turner said that Jack Marshall faces up to 12 years and 8 months in prison, Josh Marshall up to 18 years, and Jessica Marshall faces a maximum of 10 years and 8 months.
Big 3 Stocks are Up Pentair stock has soared to an alltime high, reaching $105.63 at press time, November 11. The stock has been on an upward trajectory since October 2022, but the last year saw a noteworthy 74 percent increase.
The increase coincides with a strong 2024 third quarter earnings and outlook report. The company reported sales of $993 million, which was down 2 percent compared to sales for the same period last year. However, third quarter 2024 earnings per diluted share from continuing operations (“EPS”) were $0.84 compared to $0.79 in the third quarter of 2023, a 6 percent increase. On an adjusted basis, the company reported third quarter 2024 EPS of $1.09 compared to $0.94 in the third quarter of 2023 reflecting a 16 percent increase. Plead
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John L. Stauch, Pentair’s President and Chief Executive Officer commented, “Our relentless dedication to strong execution, transformation, and delivering value to our customers has driven yet another quarter of significant free cash flow and outstanding results, surpassing our expectations.”
Other major pool and spa equipment manufacturers also boasted strong performance. Fluidra reported sales of $1.74 billion for the third quarter, an increase of 0.8 percent compared to the same period in 2023. The company reported that cash earnings per share (EPS) was up by 8 percent: $1.08 compared to $1.00 in 2023. Fluidra’s stock was at a one-year high, closing at $27.34 per share on Nov 4, representing a 47-percent increase for the year.
Hayward Holdings stock was also at a 52-week high in at the end of October, touching $16.60 per share, representing a 54-percent increase.
Hayward’s net sales increased by 3 percent to $227.6 million for the third quarter of fiscal 2024. The increase in net sales during the quarter was the result of positive net price impact including normalized allowances and discounts and the positive impact from acquisitions, partially offset by reduced volume, the company stated.
The company reported a diluted earnings per share of $0.07 for the third quarter, which was a 40-percent increase from the previous quarter.
