Casey started his companies in 1983, serving as the sole officer until 1998. The investors attorney, Debra Grassgreen, declined to comment. The law firm found several financial irregularities that raised red flags, prompting them to voluntarily approach the SEC. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. 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. Wallach could not be reached for comment. 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. [17], Casey was a donor to charitable and theatre causes, and political candidates. It is possible (but not certain) that each of the four categories of investments noted above will be affected, Sternberger wrote, but affected to varying degrees depending on the type of investment and several other factors that we are analyzing.. Jill vs. Jillian), sometimes they use their names international variations (Patrick/Padrig). Stay up to date! [11][15] Albanese became active director during the transition,[8] making $11,000 every two weeks and the North Bay Business Journal reported "some involved with the proceedings not knowing what she was doing for that salary, Hogan indicated". 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.. Email. 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. "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. 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. To seek answers, the companies have voluntarily asked the Securities and Exchange Commission to conduct a fact-finding inquiry into Kenneth J. Casey and his companies three decades of real estate investments, Sternberger wrote in a statement. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Sternberger sent letters to about 1,000 investors on June 4 and June 7 notifying them that the SEC launched the fact-finding investigation on May 28. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? 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. View the profiles of people named Charlene Albanese. A large portion of the investments was actually being used to cover the interest payments and equity disbursements of previous investors, according to the SEC. * Other possible variations for this name:Sharlene, Charlen, Char, Charline, Carlene, Charlenea. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. We always thought Lewis was a really good guy, Lastreto said. Abrupt closure of S.F. Sometimes names in public records are misspelled due to silly typos and OCR errors. Select this result to view Charlene T Albanese's phone number, address, and more. It seemed like too good to believe, and maybe it was, Lastreto said. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. 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. [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. An SEC spokeswoman declined to comment. 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. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Charlene Rae Albanese, 74. Big shift in weather is headed to California. The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. This alleged Ponzi scheme came crashing down just four months ago after the death of PFIs founder in May 2020. Ask Amy: I put a security camera in my room, and what I saw was creepy, Ask Amy: My fiancee's family says I'm not invited, and she's going without me, The dad whose wife and child were among 5 killed by a neighbor in Texas describes how the massacre unfolded, 'Total dominance': Steph Curry breaks NBA Game 7 record, leads Warriors over Kings, Dear Abby: The reason her fiance hid his phone was something she never guessed, Mortgage fees to rise for buyers with high credit scores, fall for those with lower scores, Kurtenbach: Steph Curry built the Warriors dynasty. Get info on Charlene Rae Albanese - Novato, California - (415) 927-2290. 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. "[3][21] Wallach was "charged with embezzling $26 million and using the money to buy personal items such as a Malibu vacation home and luxury cars," according to Houston. There are at least 7 records for Charlene Albanese in our database alone. In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. It is unclear whether more individuals associated with the company will be charged. 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. Cloudflare Ray ID: 7c0cf24e7ca90bda [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. 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. Run a background search to uncover their phone number, address, social photos, emails and more. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. 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. 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. A copy of the SEC complaint can be found at bit.ly/3ip3B7a. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. 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. 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. 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. What are the other possible names for Charlene Albanese? Hogan estimates Caseys companies owned interests in about 70 real estate properties with an estimated worth of more than $550 million. Get the latest posts delivered right to your inbox. HUD has the following fair market rent values (mar 2022): ClustrMaps.com aggregates public records to analyze the US cities, their social demography, and business environment. Mr. Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes. I think most people are surprised at the extent of what Lewis did and were just waiting to see what happens, Lastreto said. He did not return the call. Real estate agents in California can only work on behalf of a licensed real estate broker or real estate company. Charlene Albanese lives on Ignacio Blvd in Novato, California. However, he had past legal troubles. 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. Ask Amy: I put a security camera in my room, and what I saw was creepy, Ask Amy: My fiancee's family says I'm not invited, and she's going without me, The dad whose wife and child were among 5 killed by a neighbor in Texas describes how the massacre unfolded, 'Total dominance': Steph Curry breaks NBA Game 7 record, leads Warriors over Kings, Dear Abby: The reason her fiance hid his phone was something she never guessed, Mortgage fees to rise for buyers with high credit scores, fall for those with lower scores, Kurtenbach: Steph Curry built the Warriors dynasty. Casey became a certified public accountant in 1977 but lost his certification after being convicted of the charges. Last Update. Company. The lawsuit names Charlene Albanese Casey's ex-wife and a former Professional Financial Investors board member as a defendant solely for her role as personal representative for Casey's. Others associated with the Companies also appear to have been involved and benefitted from the scheme, and this investigation is ongoing.. Foreign surnames can be transliterated and even translated (e.g. Will Houston covers environment, transportation, West Marin and the city of Novato for the Marin IJ. Information on the Modal age groups of Albaneses neighbors (weve analysed 500 households nearest to the Albaneses current address), 418 Mission Ave, San Rafael, CA 94901, USA, 1345 Mar W St #5, Belvedere Tiburon, CA 94920, https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX, https://www.facebook.com/directory/people/, https://www.linkedin.com/search/results/people/?keywords=Charlene+Albanese, https://www.classmates.com/siteui/search/results?q=Charlene+Albanese&searchType=all, P.O. [8][11], After Casey's death, Charlene Albanesethe beneficiary of Casey's estate[13]hired the law firm Ragghianti Freitas to help with the ownership transition. The 63-year-old is one of more than 1,000 investors scrambling to recover hundreds of millions of dollars from the alleged Ponzi scheme involving Casey, who died in May from a heart attack.
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