Current address 350 Ignacio Blvd #300, Novato, CA 94949 $3,440: B. 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. 350 IGNACIO BLVD STE 300, NOVATO, CA 94949. [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". Its all dependent on getting fresh suckers, Schild said. Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. However, Casey had a criminal history of fraud and tax evasion. Get all the latest & greatest posts delivered straight to your inbox, Death of Marin Real Estate Investor Reveals Allegedly Vast Ponzi Scheme, Day Around the Bay: Person Fatally Shot on Folsom Street Sunday Morning, Ross Dress For Less Wants to Take Over the Saks Off Fifth Location at Fifth and Market Street, I Love Tenderloin Week Seeks to Beautify, Celebrate the Neighborhood With SFs Most Checkered Reputation. The Marin Independent Journal first reported on the federal investigation into Casey's companies in July, as they filed for bankruptcy. Last updated on March 06, 2022 at 7:59 PM (PST). In October 2018, he loaned Marin County District Attorney Lori Frugoli $25,000, just 13 days before the election that she would win by a few hundred votes. The population of the US is 329,484,123 people (estimated 2020). Forensic accountant Michael Hogan, who has been named chief restructuring officer for the companies, pored over the financial records and found the companies used new investor funds to pay off other investors interest payments and other debts, according to his bankruptcy declaration. Quite often, people use short versions of their name (i.e. [8] Hogan stated that the investors would be best served by pursuing bankruptcy. [3] Companies owned by him were investigated by the U.S. Securities and Exchange Commission (SEC), after attorneys said they had "engaged in serious misconduct over the nearly three decades prior to his death". The Cliff House was once a colossal Victorian mansion that met a Californias historic snowpack remains massive. Twitter account. This S.F. 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. You can email the site owner to let them know you were blocked. [2] PISF Inc. donated $300,000 towards a California state gas tax repeal in 2017funds which were then used by Travis Allen in his campaign for governor, according to the Marin IJ. Like all of the other investors, I am waiting to see what can be preserved.". 3.01.00vd4930. New York-based attorney Bijan Amini represents some of the investors in the bankruptcy case and said it still remains to be seen whether their money will be returned. San Francisco officials announced this week the City will stop acquiring new shelter-in-place hotel rooms, the CDC is now not recommending face masks with ventilators to be worn to prevent the spread of COVID-19, and a crowd of Trump supporters has shut down an overpass in Novato because 2020. Cloudflare Ray ID: 7c0cf24e7ca90bda 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. The court would determine how much of Wallachs ill-gotten gains would be repaid along with any other penalties, according to the SEC. 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. He also donated to Travis Allens and John Coxs unsuccessful runs for governor. Charlene Albanese can be found on facebook https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX. 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. The purported holdings also included nearly 1,000 apartments across 30 properties in Marin and southern Sonoma counties. Feds charge former Bay Area businessman in, 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 charge former Bay Area businessman in massive Ponzi scheme, Former Silicon Valley startup CEO pleads guilty to federal fraud charges, Stanfords Sam Bankman-Fried dined with Mohammed bin Salman and Jared Kushner to get Saudi money: report. HOME; SEARCH; MY TREE Start . The SEC investigation is ongoing, according to an SEC spokesperson. His attorney, Ed Swanson of the San Francisco-based Swanson & McNamara LLP provided a statement: For the past few months, Mr. Wallach has fully cooperated with the Department of Justice and the SEC in their investigations. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. @media(max-width: 499px) { .ad_mobile { display:inline-block; min-width: 300px; width:100%; min-height: 100px; } } Wallach faces both civil and criminal charges for allegedly violating several U.S. securities laws. That was two days afterMichael Hogan, a restructuring specialist hired to manage the companies during the SEC probe, informed more than 1,000 investors that there will likely be insufficient equity to permit the return of all the principal to some of them. Albanese has left the board. 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. For example, Hinderliter could be listed as Henderliter. Charlene Albanese's Phone Number and Email. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. [17], Casey was a donor to charitable and theatre causes, and political candidates. 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. Our overriding goal here is to increase the size of the pie if we can and help investors recover as much as their investments as we possibly can, said Michael Schrag, a lawyer for Aiken. An SEC spokeswoman declined to comment. He will plead guilty to the criminal charges that have been filed by the Department of Justice. The companies collected $330 million of investments from 2015 to 2020, many of them from elderly or retired individuals who invested life savings and relied on the interest payments for daily expenses, the court documents state. Stay up to date! The petition for involuntary bankruptcy was filed in the U.S. District Court of Northern California. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. The lawsuit names Charlene Albanese Caseys ex-wife and a former Professional Financial Investors board member as a defendant solely for her role as personal representative for Caseys estate. Based on the residence history, we assume that at least two people, including. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. [16] CFO Manuel Romero resigned from the board, "as did real estate investor Lewis Wallach as president". (415) 382-6001. Abrupt closure of S.F. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. What is the present address for Charlene Albanese? Some investors will likely see some of their money returned to them once this is all sorted out, but probably not before that entire real estate portfolio is sold. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. Email: [email protected] 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. 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. [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. In 1997, Casey pleaded guilty to one count of conspiracy to defraud the federal government, five counts of tax evasion and filing false tax returns, and 41 counts of bank fraud. [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. [2] He was a benefactor for Burt's Children Center in San Francisco. Many investors entrusted Ken with their finances, including his employees and friends, as well as myself. His admirers celebrated him as a Republican donor, philanthropist and adventurer who amassed an enormous portfolio of office parks and apartment buildings in Marin and Sonoma counties. 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. And now their accounts have been frozen, and some are worried they may never see their life savings again in a situation with echoes of the Bernie Madoff scandal. Company. [2] The San Francisco Chronicle reported the couple divorced in 1996. He has already pleaded guilty to civil charges filed by the SEC, according to court documents. Before its website was shut down last week, Professional Financial Investors Inc. stated it managed nearly 600,000 square feet of commercial warehouse and office space as well as close to 1,000 apartments in Marin and southern Sonoma counties. In addition there was one $400. Hogan estimates Caseys companies owned interests in about 70 real estate properties with an estimated worth of more than $550 million. 350 Ignacio Blvd Ste 300, Novato, California, 94949, United States . A. 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. Charlene Albanese is 75 years old and was born on 10/15/1947. 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. We always thought Lewis was a really good guy, Lastreto said. We allege that PFI became a classic Ponzi scheme, U.S. Attorney David Anderson said in announcing the charges Tuesday. We're 100% free for everything!' FamilyTree Now.com FamilyTree Now. 00943394) is an employee of Inc Professional Financial Investors, a Real Estate Corporation (license number 01151855). Company operations are stable, Chapter 11 has been filed, and I am resigning from the director position so professionals and creditors can appoint a qualified independent director, she continued. Get the latest posts delivered right to your inbox. Charlene Albanese is a Manager, Property at PFI based in Novato, California. [1], Casey was raised in Queens, New York, moving to Marin County in 1975. We all deserve a full accounting of our investments, Albanese said. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Charlene Albanese in Novato, CA Charlene Albanese may also have lived outside of Novato, such as Larkspur and San Rafael. [2] He played soccer when young and was an outdoorsman later in life, making a dog sled expedition to the North Pole. 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. Reach the author at [email protected] 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. Yes, Marin County actually does have some public housing, but residents have filed suit because the county wont do anything about the rats, exposed electrical wires, and general disrepair. The SEC has a five-year statute of limitations to file the charges, according to an SEC spokesperson. [8] In December 2021, 60 out of the more than 70 properties owned by PFI and PISF were sold for $436.5 million. This is a carousel. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey.
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