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February 14th, 2021 
Awake Goy 
After pleading guilty to money laundering, a former California State
Assemblyman was recently sentenced to one year and one day in federal
prison and ordered to pay $685,000 in restitution.
Serving in the California State
Assembly from 1974 to 1985, former Assemblyman Terrence Goggin later became the
founder and CEO of Metropolitan Coffee and Concession Company, LLC, which owned
and operated four Peet’s Coffee & Tea retail centers in Bay Area Rapid
Transit (BART) stations. From July 2007 to February 26, 2014, Goggin solicited
investor money for Metropolitan Coffee to build Peet’s Coffee retail centers,
including two centers to be built at the Civic Center and Balboa Park BART
stations.
In September 2013, Goggin solicited
$585,000
from a group of four private equity investors who thought they were investing
in the Civic Center project while also soliciting $100,000 from an individual
who wanted to invest in the Balboa Park project. Instead, Goggin directed his
employees to divert the money to other accounts, including the business bank account
of Aegis Atlantic LLC, a Delaware company of which Goggin was also the CEO.
In November 2018, a federal grand
jury charged Goggin with four counts of wire
fraud and nine counts of money laundering. On December 4, 2019, he pleaded
guilty to one count of money
laundering.
On Wednesday, U.S. District Judge
James Donato sentenced the former State Assemblyman to one year and one day in
prison and ordered him to pay $685,000
in restitution. Judge Donato also sentenced him to a three-year period of
supervised release to follow his imprisonment.
Goggin is presently out of custody
and ordered to surrender on June 28, 2021, to begin serving his sentence.
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