Like all of the other investors, I am waiting to see what can be preserved., Hogan also reported in his recent bankruptcy declaration that the companies former CEO, Lewis Wallach, may have also benefited from the manner in which Mr. Casey ran the Companies.. Casey was a friend of my late husband and I knew of Mr. Casey through his service on the Marin County Human Rights Commission, Frugoli said in an email. The SEC has a five-year statute of limitations to file the charges, according to an SEC spokesperson. Address. 15 Woodside Ct, Novato, CA 94947, lived here in 2018 $3,200: C. 350 Ignacio Blvd #105, Novato, CA 94949, lived here in 2018 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. I think most people are surprised at the extent of what Lewis did and were just waiting to see what happens, Lastreto said. We always thought Lewis was a really good guy, Lastreto said. Real estate agents in California can only work on behalf of a licensed real estate broker or real estate company. The population of the US is 329,484,123 people (estimated 2020). It also names the former company president, Lewis Wallach. An SEC spokeswoman declined to comment. 3. Charlene Albanese's Phone Number and Email. 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. The two companies deferred comment to the law firm. 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. Tel: (415) 898-0875, 4158980875 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. After Ken Casey died last month at age 73, the San Rafael law firm Ragghianti Freitas LLP was brought on to facilitate the ownership transfer of his Novato companies, Professional Financial Investors Inc. and Professional Investors Security Fund Inc. Attorney Eric Sternberger said the companies voluntarily approached the SEC after a review of the businesses conducted by his law firm raised legitimate questions involving the structure and investment history of Mr. Caseys companies.. In a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. The investigation does not mean the SEC has concluded that violations of the law have occurred, according to Sternberger. [3] The Marin IJ's Will Houston reported that the SEC stated that both Wallach and Casey had assured investors when the COVID-19 pandemic began that "the company was financially secure because it had large cash reserves, lines of credit and the 'ability to sell properties owned'. Its pretty scary for a lot of people, he said. 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. And theres not an infinite supply of suckers., Matthias Gafni is a San Francisco Chronicle staff writer. HOME; SEARCH; MY TREE Start . 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. Search Charlene Albanese's public records online. He was sentenced to 18 months in prison and three years of probation, according to court and state records. In July, Wallach had agreed with the companies attorneys to wire $1 million from his limited liability company to PFI and PISF as well as to surrender two properties believed to be worth several million dollars, according to Hogan. We allege that for years Wallach conspired with PFIs founder to fool investors.. Casey died in May 2020 from a heart attack. We allege that PFI became a classic Ponzi scheme, U.S. Attorney David Anderson said in announcing the charges Tuesday. 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. They now question whether more officials from the Novato companies profited off the three decades of a Ponzi-like operation, according to bankruptcy records reviewed by The Chronicle. Charlene Albanese in Novato, CA Charlene Albanese may also have lived outside of Novato, such as Larkspur and San Rafael. The companies own about 70 commercial properties including office spaces and apartment complexes in Marin and Sonoma counties. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. He will continue to work with government to remedy the harm he has caused investors.. Wallach faces both civil and criminal charges for allegedly violating several U.S. securities laws. He has voluntarily turned over property and money to PFI and PISF. 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. Join Facebook to connect with Charlene Albanese and others you may know. What happened on first day of CHP drug dealing crackdown in S.F. Real estate agents, real estate brokers and realty companies are required to be licensed for conducting real estate transactions in the United States. PFI. Wallach was always very reassuring, Lastreto said, and all of the interest payments were paid on time. wine startup leaves customers with thousands of Steph Curry adds to his Warriors legend by lighting up Kings for 50. 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. [17], Casey was a donor to charitable and theatre causes, and political candidates. What is the present address for Charlene Albanese? Which cities has Charlene Albanese visited? Use Next and Previous buttons to navigate. [1], Casey became a certified public accountant (CPA) in 1977. While Sternberger said the news is devastating for investors, he said more information will need to wait. [7] Performance & security by Cloudflare. 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. The seven investors filed petitions seeking involuntary bankruptcy proceedings on July 16. Last updated on March 06, 2022 at 7:59 PM (PST). [2] Spotswood stated that Burt's Children Center had closed in 2010, and that "NextGen Marin was mostly a housing advocacy online presence". 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. 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. Resides in Novato, CA. Cloudflare Ray ID: 7c0cf24e7ca90bda Dear Abby: Am I overreacting to my European daughter-in-law's behavior? It seemed like too good to believe, and maybe it was, Lastreto said. 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. It is quite rare but still happens that a person can be found being listed under a completely different name. 00943394) is an employee of Inc Professional Financial Investors, a Real Estate Corporation (license number 01151855). A court declaration filed by Hogan stated Wallach appeared to have benefitted from how the companies were managed. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. Frugoli has said she repaid the loan in full prior to the beginning of any investigtion into the operation of Caseys companies. Wallach, 64, has served as PFIs president and CEO since 1998. Will Houston covers environment, transportation, West Marin and the city of Novato for the Marin IJ. Long vs. Lang). Foreign surnames can be transliterated and even translated (e.g. Four of the investors are listed as Marin County residents. In a statement to The Chronicle,. In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. Our decision-making remains driven by a desire to achieve the best possible outcome under the circumstances for the investors, he wrote. Click to reveal Jay C. Barmann is a fiction writer and web editor who's lived in San Francisco for 20+ years. 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. 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. 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. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. 2. Susan Aiken, who is not a party to the federal case,alleges the companies committed securities fraud. The second best result is Charlene T Albanese age 50s in Tonawanda, NY. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. He has already pleaded guilty to civil charges filed by the SEC, according to court documents. 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. 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. The investors attorney, Debra Grassgreen, declined to comment. Separately, another investor has filed a class-action lawsuit in Marin County Superior Court. She may also be known by the following alternative names: Charlene Allanese, Charlene R Albanese, Charlene R Casey, Charle Albanese, Charlene Albanese, Charlene Casey. Facebook gives people the. [12] Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. The same person can appear under different names in public records. Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. [1], Casey was raised in Queens, New York, moving to Marin County in 1975. 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. Casey's ex-wife Charlene Albanese had retained the law firm to handle the transition of Casey's companies to a new owner. Wallach and two other corporate officers resigned in June at the request of Hogan and Sternberger. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? We're 100% free for everything!' FamilyTree Now.com FamilyTree Now. 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. 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. At Caseys passing, Marin County officials hailed him as the largest commercial property owner in the county in an article by the Marin Independent Journal, which first broke the stories of the alleged scam. Nine previous addresses found, including 210 Monte Vista Ave, Larkspur, CA 94939, USA. Everything may still be fine, but we must wait to find out., In the past week, Lastreto said he and acquaintances who have also invested in the companies have been in the dark on what is going on, which has led to some blue-sky speculation.. The Marin Independent Journal first reported on the federal investigation into Casey's companies in July, as they filed for bankruptcy. 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. 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. Casey started his companies in 1983, serving as the sole officer until 1998. Email. 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.
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