charlene albanese novato, ca
00943394) is an employee of Inc Professional Financial Investors, a Real Estate Corporation (license number 01151855). [3] Following an investigation also conducted by the FBI, the complaint alleges that Wallach and Casey knew since at least 2015 that they would be unable to pay investors from revenues, but that information was not shared with investors. They also indicate Wallach owned a beachfront Malibu property that is now renting for $30,000 a month. Search for Criminal & Traffic Records, Bankruptcies. However, Casey had a criminal history of fraud and tax evasion. 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. 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. 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. 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. Facebook gives people the. 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. Box 625, Larkspur, CA 94977-0625 was used in 2001, P.O. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. This S.F. 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. (adsbygoogle = window.adsbygoogle || []).push({}); [3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. The SEC investigation is ongoing, according to an SEC spokesperson. 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. 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.. The Marin Independent Journal first reported on the federal investigation into Casey's companies in July, as they filed for bankruptcy. 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. In a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. [1], Casey obtained a business license in 1983[7] and founded Professional Investors Security Fund Inc. (PISF Inc.) based in Ignacio, California. We're 100% free for everything!' FamilyTree Now.com FamilyTree Now. 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. As the Chronicle reports, Casey left his businesses, Professional Financial Investors Inc. and Professional Investors Security Fund Inc., to his ex-wife, and it was her legal and financial investigations that uncovered what federal authorities say was a "Ponzi-like" scheme in which new investors' money was used to pay dividends to longtime investors, and much of his property was leveraged to the hilt. Join Facebook to connect with Charlene Albanese and others you may know. Mr. Casey never attempted to curry favor from me or my office.. He said hed likely have to sell his Oakland condominium to pay off his debt. An SEC spokeswoman declined to comment. wine startup leaves customers with thousands of Steph Curry adds to his Warriors legend by lighting up Kings for 50. This website is using a security service to protect itself from online attacks. Get Morning Report and other email newsletters. 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. Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes. If this link does not work for you, you can also use FB directory https://www.facebook.com/directory/people/. Heres what I did wrong. 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. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. 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. 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. Will Houston covers environment, transportation, West Marin and the city of Novato for the Marin IJ. The two companies deferred comment to the law firm. Its all dependent on getting fresh suckers, Schild said. 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. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. She was born on Oct 15, 1947. 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. 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. The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. "[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. 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. 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. He was regaled as a philanthropist and an adventurer, who Herb Caen once wrote about in 1995 when he was training to become the 13th man to reach the North Pole by dog sled. He maintained complete control of the companies until his death, Hogan said. [2] He played soccer when young and was an outdoorsman later in life, making a dog sled expedition to the North Pole. [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". Quite often, people use short versions of their name (i.e. Charlene Albanese lives in Novato, CA; previous city include Larkspur CA. Box, Larkspur, CA 94977 was used in 2017. (415) 382-6001. 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. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. What happened on first day of CHP drug dealing crackdown in S.F. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. [7] Four of the investors are listed as Marin County residents. He did not return the call. Jill vs. Jillian), sometimes they use their names international variations (Patrick/Padrig). Twitter account. [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". Which cities has Charlene Albanese visited? 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. The complaint alleges the companies knowingly misled investors and violated the California Securities Act by failing to register the investments as securities. 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. Professional Financial Investors Inc.s website is no longer operational, though the company continues to operate, according to Sternbergers letters. [8] The investigation revealed that 20% of PFI properties had no equity. [5] He died on May 6, 2020 at the age of 73 of a heart attack. Separately, another investor has filed a class-action lawsuit in Marin County Superior Court. Wallach faces both civil and criminal charges for allegedly violating several U.S. securities laws. He was sentenced to 18 months in prison and three years of probation, according to court and state records. The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. Like many others, I was shocked to learn of the allegations which have surfaced. This is a carousel. The U.S. Securities and Exchange Commission and U.S. Attorneys Office alleged this week that the late Kenneth Casey and his business associate, Lewis Wallach, were co-conspirators who intentionally defrauded 1,300 individuals who invested in their two Novato real estate investments companies, Professional Financial Investors Inc., or PFI, and its associated fund, Professional Investors Security Fund Inc., or PISF. Stay up to date! Note, Facebook may ask you to prove you're not a bot - just solve CAPTCHA. [17], Casey was a donor to charitable and theatre causes, and political candidates. Many investors entrusted Ken with their finances, including his employees and friends, as well as myself. [2] He described PISF Inc. as "a personal corporation that I have owned since the early 1980s that I use for my own personal business reasons". We all deserve a full accounting of our investments, Albanese said. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. Foreign surnames can be transliterated and even translated (e.g. Join Facebook to connect with Michael Albanese and others you may know. The same person can appear under different names in public records. Funds were frozen to preserve them for the investors, except those relating to bank debt and normal operating expenses, and all officers were removed. [5] He died on May 6, 2020 at the age of 73 of a heart attack. 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. A case management hearing is scheduled for Dec. 28. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. 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. Contact. What is Charlene Albanese's contact number? Dear Abby: I have a great life, so why have I fallen into this shameful behavior? A spokesman for the SEC declined to comment about the investigation this week. She asked me for a loan and I said sure, Casey told the Independent Journal at the time. He has already pleaded guilty to civil charges filed by the SEC, according to court documents. [8][9][10] He served 18 months in prison[11] for "21 counts of bank fraud, five counts of tax evasion, five counts of filing false income tax returns and one count of conspiracy to defraud the United States", according to the Point Reyes Light. Tel: (415) 898-0875, 4158980875 PFI. [2] Spotswood stated that Burt's Children Center had closed in 2010, and that "NextGen Marin was mostly a housing advocacy online presence". He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. 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. 350 Ignacio Blvd Ste 300, Novato, California, 94949, United States . 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.. [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. View phone number, full address and more on 411.info. "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. Albanese has left the board. 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. In addition there was one $400. View Public Record Results ✓ Addresses. Real estate agents in California can only work on behalf of a licensed real estate broker or real estate company. Casey became a certified public accountant in 1977 but lost his certification after being convicted of the charges. Click to reveal 15 Woodside Ct, Novato, CA 94947, lived here in 2018 $3,200: C. 350 Ignacio Blvd #105, Novato, CA 94949, lived here in 2018 Susan Aiken, who is not a party to the federal case,alleges the companies committed securities fraud. Read More. While Sternberger said the news is devastating for investors, he said more information will need to wait. 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. * Other possible variations for this name:Sharlene, Charlen, Char, Charline, Carlene, Charlenea. 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. The population of the US is 329,484,123 people (estimated 2020). He was sentenced to 18 months in prison, according to court records. What are the other possible names for Charlene Albanese? California man accused of treating thousands of people without a medical license for years, DA says. All Filters. [1], Casey was raised in Queens, New York, moving to Marin County in 1975. 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. 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. [11] An audit raised "legitimate questions involving the structure and investment history of Mr. Casey's companies", according to partner of the law firm,[14] and the SEC was asked to investigate. The Cliff House was once a colossal Victorian mansion that met a Californias historic snowpack remains massive. [12] Casey, Albanese, Wallach and other PFI or PISF employees had earlier donated to similar political candidates. What everybodys looking for is the best structure and circumstances under which to do that, Amini said Wednesday. Ken Casey managed to get a lot of residents of the Bay Area and beyond to buy into his too-good-to-be-true investment enterprise. It seemed like too good to believe, and maybe it was, Lastreto said. It also names the former company president, Lewis Wallach. 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. Sometimes names in public records are misspelled due to silly typos and OCR errors. Jay C. Barmann is a fiction writer and web editor who's lived in San Francisco for 20+ years. A copy of the SEC complaint can be found at bit.ly/3ip3B7a. 81.4.126.112 The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Casey started his companies in 1983, serving as the sole officer until 1998. 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. Shortly after his death at age 73, a law firm and accountant tasked with transferring his companies Professional Financial Investors Inc. and Professional Investors Security Fund Inc. to his ex-wife uncovered the allegations of fraud. Charlene Albanese is 75 years old and was born on 10/15/1947. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. He will continue to work with government to remedy the harm he has caused investors.. This alleged Ponzi scheme came crashing down just four months ago after the death of PFIs founder in May 2020. The SEC initiated its investigation on May 28, he said. A court declaration filed by Hogan stated Wallach appeared to have benefitted from how the companies were managed. [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". It is quite rare but still happens that a person can be found being listed under a completely different name. Wallach was always very reassuring, Lastreto said, and all of the interest payments were paid on time. Your Privacy Choices (Opt Out of Sale/Targeted Ads). Casey died at age 73 owning around 70 properties worth an estimated total of $550 million, but he owed more than $250 million to investors and was carrying around $400 million in debt you do the math. She may also be known by the following alternative names: Charlene Allanese, Charlene R Albanese, Charlene R Casey, Charle Albanese, Charlene Albanese, Charlene Casey. Ver. [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. 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.
