In April, Security Pacific Bank of Los Angeles made similar claims, suing Merriman and accusing Del Biaggio of tricking them into a $5 million loan. Sources told the Mercury News that Del Biaggio, who quit Sand Hill capital shortly after the scandal broke, now faces an SEC investigation. He's already declared bankruptcy, claiming he owes as much as $70 million and possesses a net worth of $50 million. It's a long, hard fall for one of San Francisco's more public financial figures. In the late 1990s, after financing inital public offerings for ShopNow.com and VerticalNet, Boots — living in a palatial estate in the Almaden Hills — was even considered a potential San Francisco mayoral candidate.