[3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. Hogan estimates Caseys companies owned interests in about 70 real estate properties with an estimated worth of more than $550 million. Get Morning Report and other email newsletters. Run a background search to uncover their phone number, address, social photos, emails and more. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. Box, Larkspur, CA 94977 was used in 2017. All Access Digital offer for just 99 cents! The U.S. Attorneys Office alleges Wallach used investor funds to advance his personal development projects in California and Texas such as oil and gas exploration projects as well as to pay down his credit cards. [3], Hogan described the company operations as a "Ponzi scheme-like operation", saying new investments "were used to service the debt owed to existing investors and to personally enrich Mr. Casey himself". Here are their demands, Downtown S.F. Casey, who was a prominent Marin business figure, campaign contributor and philanthropist, was convicted of several counts of tax evasion and fraud charges in the late 1990s. [8] The SEC's "non-public, fact-finding inquiry" began on May 28, 2020;[14] Michael Hogan was enlisted as the chief restructuring officer,[8] hired by the law firm retained by Albanese. Both companies filed for Chapter 11 bankruptcy in August with nervous investors hoping to secure at least part of their investments, which range up to the millions of dollars for some. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. The law firm found several financial irregularities that raised red flags, prompting them to voluntarily approach the SEC. He maintained complete control of the companies until his death, Hogan said. He was sentenced to 18 months in prison and three years of probation, according to court and state records. Words cannot express my deep shock concerning information that has come to light regarding my ex-husbands corporate finances after he passed away, Albanese said in a statement provided by the law firm. Hogan and Sternberger have both stated that Albanese had no control of and had not been directing the company or its finances before Caseys death. Charlene Albanese is 75. Join Facebook to connect with Charlene Albanese and others you may know. I was very confident in this company, Cales wrote in a text. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. When investors raised concerns about their investments at the beginning of the coronavirus pandemic, Wallach assured them that the company was financially secure because it had large cash reserves, lines of credit and the ability to sell properties owned free and clear, according to the SEC filing. What is the present address for Charlene Albanese? One such investor, 63-year-old Robin Schild, tells the Chronicle that he'd invested $250,000 with Casey, only to be so happy with the stated returns that he mortgaged his home to invest more. Reached Wednesday at his Southern California home in Encino, Wallach declined to comment. However, Casey had a criminal history of fraud and tax evasion. In 1983, he secured a business license for Professional Investors Security Fund Inc. and another license for Professional Financial Investors Inc. in 1990, according to Secretary of State records. Lived In Larkspur CA, San Rafael CA, Stinson Beach CA . We allege that PFI became a classic Ponzi scheme, U.S. Attorney David Anderson said in announcing the charges Tuesday. 2. The investors claim stakes of $100,000 to $3.3 million with Professional Investors Security Fund Inc. and an affiliated company, Professional Financial Investors Inc. [1], Casey was raised in Queens, New York, moving to Marin County in 1975. This page is not available in other languages. [8] Hogan stated that the investors would be best served by pursuing bankruptcy. Casey had recently become active in donating to Republican causes, including a $300,000 donation from Caseys companies to a committee created to advocate for the repeal of the states gas tax. People with the same last name and sometimes even full name can become a real headache to search for example, Richard Harringtonis found in our records 773 times. As for Schild, he said he was introduced to the company by a friend and he only spoke a few times to Casey over the phone and found him friendly. [2] He played soccer when young and was an outdoorsman later in life, making a dog sled expedition to the North Pole. In 1997, Casey pleaded guilty in federal court to one count of conspiracy to defraud the federal government, five counts of tax evasion, 41 counts of bank fraud and five counts of filing false income tax returns. (415) 382-6001. View the profiles of people named Michael Albanese. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Click to reveal While Im not able to comment on an active investigation, we immediately brought these issues to the SECs attention to examine some of Kens past business dealings. She asked me for a loan and I said sure, Casey told the Independent Journal at the time. [2] The San Francisco Chronicle reported the couple divorced in 1996. [2] The company website claimed over 1,500 investors,[1] and many investors were not aware of Casey's past felonies. To find the truth, we are and will continue to cooperate fully with the inquiry to ensure the timely completion of their work on behalf of the investors., Feds scrutinize Marin investment firms after, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on Reddit (Opens in new window), H-1B: Feds want criminal charges over application fraud for Silicon Valleys favorite visa, Feds scrutinize Marin investment firms after death of owner, Army helicopter crashes off Florida; 11 Marines and soldiers presumed dead. Last month, the law firm reached an agreement with Wallach to return $1 million from an LLC that he controlled, and is waiting for him to return two properties with several million dollars in equity, Hogan said. [2] Spotswood stated that Burt's Children Center had closed in 2010, and that "NextGen Marin was mostly a housing advocacy online presence". Last month, both companies filed for bankruptcy. Stay up to date! Everyone deserves answers on their investments, but to be able to give meaningful and complete answers it requires the analysis of a large and complex amount of data, which we are working through with the SEC, Sternberger wrote in his statement. In earlier correspondence, Hogan warned clients of serious misconduct at the companies and said the recovery of their investments could occur on two paths: bankruptcy or receivership. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. Use Next and Previous buttons to navigate. Federal officials say Wallach and Casey misled investors by telling them their investments would be used to purchase multi-unit residential and commercial real estate to be managed by PFI. A well known Republican donor and real estate mogul who attracted over 1,000 investors into what was allegedly a Ponzi scheme dating back decades died of a heart attack in May, leaving his ex-wife. However, those properties have debt exceeding $400 million and his companies owe more than $250 million to investors, he said in court records. In a statement to The Chronicle,. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. Funds were frozen to preserve them for the investors, except those relating to bank debt and normal operating expenses, and all officers were removed. Performance & security by Cloudflare. Lastretos former sister-in-law Donna Cales, a Roseville resident and investor in the companies since 2015, said the companies have always been professional and that her investment had been handled with care. Which cities has Charlene Albanese visited? In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. Amini said he would hope Wallach would provide as much information as possible with the goal being to maximize the return to the investors who were fleeced.. In fact, Wallach knew that PFI did not have large or even sufficient reserves to meet its obligations, had no lines of credit, and all properties had outstanding debt, the SEC complaint states. He will plead guilty to the criminal charges that have been filed by the Department of Justice. The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. [18][19], As of October 2020, the SEC investigation continues, and the possibility of other individuals being charged remains. [7] He operated Kenneth J. Casey, An Accountancy Corp., until his CPA certificate was revoked in 1998 after he was convicted in 1997 of felony violations for fraud and tax evasion. Heis charged with embezzling $26 million from a PFI account to personally enrich himself and using the money to buy personal items such as a Malibu vacation home and luxury cars. These licenses provide agents and brokers the legal ability to represent a home seller or buyer in the process of buying or selling real estate. Charlene Albanese is a Manager, Property at PFI based in Novato, California. Refine Your Search Results. Over a period of at least three decades, Mr. Casey appears to have operated a fraudulent scheme in which investors loaned funds to the Companies, with a significant portion of those funds being used to service the debt owed to existing investors and to personally enrich Mr. Casey himself, Hogan said. Sternberger discovered a variety of improprieties, after which I directed the company to self-report to the SEC, which then began its investigation, she said. This website is using a security service to protect itself from online attacks. They have also lived in Meridian, ID and Wheaton, IL. As alleged in our complaint, Wallach engaged in an egregious fraud that deprived many older investors of their hard-earned savings and retirement funds, the SECs San Francisco regional office director Erin Schneider said in a statement. Current address 350 Ignacio Blvd #300, Novato, CA 94949 $3,440: B. Robin Schild was so happy with his $250,000 investment, he mortgaged his house for $400,000 and sunk that too into Ken Caseys real estate investment firms that promised sky-high returns and came with even higher praise from friends. Charlene Rae Albanese has a license type of Real Estate Salesperson which allows a real estate professional to perform services such as selling, buying, renting, auctioning, advertising of real estate properties, but only on behalf of a real estate broker (licensed broker who employs the sales agent). They had 35+ years great record. Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey. A woman answered the phone Monday and took a message for Wallach. All mentioned corporate names and trademarks are the property of their respective owners. [5] He died on May 6, 2020 at the age of 73 of a heart attack. [12] Responding to charges that the company may be reimbursing employees for maximum contributions, Casey stated, "Nobody is getting reimbursed for anything."[12]. The purported holdings also included nearly 1,000 apartments across 30 properties in Marin and southern Sonoma counties. He and two other executives resigned in May at the request of the companies newly hired restructuring officer, Michael Hogan, who was brought in to manage the companies and their properties as the SEC investigation took place. Select this result to view Charlene T Albanese's phone number, address, and more. Search for Criminal & Traffic Records, Bankruptcies. Full Name, Age, Job and Education Records, View Social Media Profiles & Photos in One Place, Estimated values of property, vehicles, aircraft and watercraft, These are the people who lived at the same address and at the same time as this person, By using tree view and force view visualization techniques, you can discover potential connections between people based on information about their previous addresses. What are the other possible names for Charlene Albanese? Robin Schild poses for a portrait at his home on Wednesday, August 5, 2020, in Albany, Calif. Robin invested a total of $650K, starting in 2016, in an alleged Ponzi scheme by dead Novato businessman Ken Casey. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. Charlene Albanese can be found on facebook https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX. [22], Wallach's attorney, Ed Swanson, responded that Wallach was cooperating with the investigation, and would plead guilty to the criminal charges, having already pled guilty to civil charges. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. Therefore, ClustrMaps.com cannot be used for any purpose covered by the FCRA, Text on ClustrMaps.com is available under CC BY-NC-SA 3.0 license unless otherwise specified. The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. There is also the concern that investors could be out on their investment and payments, which Lastreto said people rely on for everything from daily needs to medical expenses. Get the latest posts delivered right to your inbox. Charlene Albanese's Phone Number and Email. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. Wallach could not be reached for comment. Its interesting for them to do a fact-finding investigation, but why would they freeze everything unless they thought there was something inappropriate that had gone on? Lastreto said. The launch of the SEC investigation resulted in the suspension of new investment and interest payments, leaving many investors uncertain of whether they will recover their money. Kenneth J. Casey (died May 6, 2020)[1] was a Novato, California real estate investor and member of the Marin County Human Rights Commission,[2] charged in 2020 with "operating a massive Ponzi scheme" that defrauded "more than a thousand investors" while "embezzling tens of millions of dollars to personally enrich himself". Ver. Federal criminal investigators this week charged a former Novato businessman of operating a massive Ponzi scheme, defrauding more than a thousand investors and embezzling tens of millions of dollars to personally enrich himself. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. [20], Wallach and Casey were charged as a co-conspirators on September 30, 2020 in a "massive Ponzi scheme", with the SEC and the U.S. Attorney's Office alleging they "intentionally defrauded 1,300 individuals". This surname is found in public records in various versions, some of which are Albanes, Albenese, Albanse, Aldanese, Alvanese, Albanses, Abanese, Alabanese, Alanese, Albonese, Albanase, Albanesejr, Lbanese, Richar, Anese, Albanesa, Albamese, Albanise, Albanesse, Albaneses, Banese, Albnese, Albansese, Albanese albanese, Counties publish data that may contain information about people. Everybody that Ive mentioned to you, every one of us has received every penny due to us right on time, said Lastreto, a former Marin resident who lives in Roseville. Political chaos has erupted in this Peninsula city over one issue: Housing, Flower Moon, a lunar eclipse and a meteor shower unfold this week, Oakland teachers set to strike starting Thursday. This fraud escalated in the final months before Caseys death and the beginning of the coronavirus pandemic as more money was needed to maintain the false appearance of a successful investment company, Anderson said. The SEC initiated its investigation on May 28, he said. Four of the investors are listed as Marin County residents. This is a carousel. However, he had past legal troubles. How the investigation will impact the millions of dollars in investments made by nearly 1,000 investors is unclear. The state panel is preparing a final report that will suggest how to compensate Black residents to address the harms caused by the states history of slavery. Frugoli has said she repaid the loan in full prior to the beginning of any investigtion into the operation of Caseys companies. The federal investigations into the companies began at the request of a law firm hired by Caseys ex-wife, Charlene Albanese, who is also the beneficiary of Caseys estate, to handle the companies transition. Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. A proposed judgment submitted to the court in the SEC case would bar him from serving as an officer or director for a public company in the future. The top 10 most expensive home sales in Oakland, reported the week of April 24, Yellen says US could hit debt ceiling as soon as June 1, FDIC recommends overhauling insurance deposit system, Harriette Cole: My friend's mom didn't recognize me at my job, and she was very rude. We will continue to combat fraud targeting our most vulnerable investors, and we encourage all investors to use the resources available on the commissions website to help identify risks and red flags.. Email: matthias.gafni@sfchronicle.com Twitter: @mgafni, Feds investigating massive suspected Marin County Ponzi scheme involving dead real estate investor, They defied health rules for a storybook San Francisco wedding. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. Charlene Rae Albanese (License No. "Words cannot express my deep shock concerning information that has. . [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. She was born on Oct 15, 1947. Last Update. Since investing in 2016, the Albany resident said he regularly received his monthly 9% interest payments deposited into his bank account and at one point withdrew $200,000 from his account with no problems. Reach the author at whouston@marinij.com or follow Will on Twitter: @Will_S_Houston, Investors sue amid probe of Marin investment firms, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to email a link to a friend (Opens in new window), Marin Transit to end some services amid low ridership, Sausalito serves as setting for new Apple TV+ show, San Rafael private high school slated to close, San Rafael robbery target shot in Canal area, Novato wetland renamed following petition by park ranger, Mill Valley parents, teachers protest class cutbacks, contract talks, Marin sheriff seeks appraisal ahead of oversight decision, Tam district stops all classes for anti-fentanyl webinar, Marin officials envision training, housing center for firefighters, Marin workforce training program for Latinos bolstered by $524K grant, Bay Area celebrates Opening Day on the Bay, Facebook owner chops more than 1,500 Bay Area jobs as tech layoffs soar, Terra Linda's Solstice Loop a favorite for mountain bikers is a tough, rough and steep hike, New sea-level rise study to focus on Marin transportation system, Do Not Sell/Share My Personal Information. [2][4] He married Charlene Albanese[5] and "is survived by his son, Michael Albanese". [6] A 2011 interview of Albanese for a magazine feature about their home stated that Charlene and her husband, Ken Casey purchased a second home in 2003. A copy of the SEC complaint can be found at bit.ly/3ip3B7a. Facebook gives people the. Quite often, people use short versions of their name (i.e. You can email the site owner to let them know you were blocked. The seven investors filed petitions seeking involuntary bankruptcy proceedings on July 16. Lastreto said he and other investors hes spoken to are glad that Wallach has been charged, but said the allegations still came as a shock. He was sentenced to 18 months in prison, according to court records. Last updated on March 06, 2022 at 7:59 PM (PST). California man accused of treating thousands of people without a medical license for years, DA says. [17] More than a thousand individuals had their investments "co-mingled with potential ill-gotten gains", according to Hogan. Twitter account. [8] The investigation revealed that 20% of PFI properties had no equity. Charlene lives in the 94949. [3] For each offense, a 20-year prison sentence could be imposed;[23] a hearing is scheduled for December 28, 2020 and it remains to be determined as of October 2020 whether any ill-gotten gains will be repaid. "Novato businessman, philanthropist Ken Casey dies at 73", "Feds charge former Novato businessman in massive 'Ponzi scheme', "Feds investigating massive suspected Marin County Ponzi scheme involving dead real estate investor", "Feds scrutinize Marin investment firms after death of owner", "Feds scrutinize two firms after death of owner", "Novato investment firms file for bankruptcy amid probe", "Consultant: Marin investment firms committed 'serious misconduct', "Novato investor linked to GOP donation flap", "SEC Investigating Marin County Real Estate Company After Owner's Death", "SEC to probe deceased Marin County investor Ken Casey's businesses", "Informational Memo regarding Professional Financial Investors, Inc. ("PFI") and Professional Investors Security Fund, Inc. ("PISF")", "Real estate investor bankruptcy hearing raises allegation of a Ponzi scheme", "Marin County Real Estate Firm Reports 20% of Its Properties Have No Equity", "Why these North Bay commercial property transactions are a big deal", "Ex-CEO Of Novato Firm Charged In Alleged $350M Ponzi Scheme", "Criminal charges filed in Marin County real estate Ponzi case involving 1,300 investors", "Investors Try to Push Mysterious California Real Estate Empire Into Bankruptcy", https://en.wikipedia.org/w/index.php?title=Kenneth_J._Casey&oldid=1144775100, This page was last edited on 15 March 2023, at 14:09. 350 Ignacio Blvd Ste 300, Novato, California, 94949, United States . We always thought Lewis was a really good guy, Lastreto said. All Access Digital offer for just 99 cents! A 2011 interview of Albanese for a magazine feature about their home stated that "Charlene and her husband, Ken Casey" purchased a second home in 2003. [2] He was a founder of NextGenMarin, which was described by the Marin IJ as a "housing, business and community thank tank for college students and young activists". The caller said hed kidnapped my wife. Mr. Casey never attempted to curry favor from me or my office.. [1], Casey obtained a business license in 1983[7] and founded Professional Investors Security Fund Inc. (PISF Inc.) based in Ignacio, California. This S.F. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. A case management hearing is scheduled for Dec. 28. Resides in Novato, CA. [12] Casey, Albanese, Wallach and other PFI or PISF employees had earlier donated to similar political candidates. They also indicate Wallach owned a beachfront Malibu property that is now renting for $30,000 a month. Address. He maintained complete control of the companies until his death, Hogan said. Casey started his companies in 1983, serving as the sole officer until 1998. Wallach allegedly used the money to buy a vacation home, luxury cars, coin collections and pay for private school tuition. An SEC spokeswoman declined to comment. And theres not an infinite supply of suckers., Matthias Gafni is a San Francisco Chronicle staff writer. In a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. This is in part due to the variability of the investor types, he said, which include members of limited liability companies and various types of lenders. A court declaration filed by Hogan stated Wallach appeared to have benefitted from how the companies were managed. The complaint alleges the companies knowingly misled investors and violated the California Securities Act by failing to register the investments as securities. Heres what I did wrong. Real estate agents, real estate brokers and realty companies are required to be licensed for conducting real estate transactions in the United States. Abrupt closure of S.F. Attacks on delivery drivers add to gig workers fears, Search for missing Oklahoma teens leads to house, 7 dead, Los Banos woman killed in crash east of Gilroy, False alarms, few leads as search drags on for Texas gunman, Harriette Cole: My friend's mom didn't recognize me at my job, and she was very rude. [1], Casey became a certified public accountant (CPA) in 1977. Real estate licenses in US are issued by state government through agencies like real estate commission or board of professional licensing. Casey, who founded PISF in 1983 and PFI in 1990, was previously convicted of several counts of fraud and tax evasion in the late 1990s and lost his certified public accountant license. Email. [8] The estimated value as of July 2020 of properties owned by the companies was $550million, and the companies owed about $650 million. [12] Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. Having seen the changes in Marin throughout his life and knowing how difficult new development is, Lastreto said he and others saw how valuable it would be to invest in real estate. needs these 5 sites to thrive so the city can recover. Based on the residence history, we assume that at least two people, including. If convicted in criminal court, Wallach could face up to 20-year maximum prison sentences for each charge, a fine of $250,000 and to pay other restitution, according to the U.S. Attorneys Office. Others associated with the Companies also appear to have been involved and benefitted from the scheme, and this investigation is ongoing.. The petition for involuntary bankruptcy was filed in the U.S. District Court of Northern California. Your IP: The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes.
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