The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. We're 100% free for everything!' FamilyTree Now.com FamilyTree Now. 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. Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. A copy of the SEC complaint can be found at bit.ly/3ip3B7a. wine startup leaves customers with thousands of Steph Curry adds to his Warriors legend by lighting up Kings for 50. The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. We cannot guarantee the accuracy, correctness and/or timeliness of the data. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Box, Larkspur, CA 94977 was used in 2017. [2] The company website claimed over 1,500 investors,[1] and many investors were not aware of Casey's past felonies. Separately, another investor has filed a class-action lawsuit in Marin County Superior Court. 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. 350 Ignacio Boul, Novato, CA 94949-7202 is the residential address for Charlene. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. Charlene Albanese Novato, age 74, female. Kenneth J. Casey - Wikipedia Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey. 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 a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. What is Charlene Albanese's contact number? 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. [7] He operated Kenneth J. Casey, An Accountancy Corp., until his CPA certificate was revoked in 1998 after he was convicted in 1997 of felony violations for fraud and tax evasion. A lawyer representing the company, Eric Sternberger, declined to comment Tuesday and deferred to Hogans letter. 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. [8] The estimated value as of July 2020 of properties owned by the companies was $550million, and the companies owed about $650 million. He was able to pull $200,000 out of his account with no problem at some point, so he's just waiting to find out how much of his remaining investment he'll ever see again. 00943394) is an employee of Inc Professional Financial Investors, a Real Estate Corporation (license number 01151855). Its like, do I need this in the middle of the worst epidemic in 100 years? Schild said in an interview with The Chronicle. The same person can appear under different names in public records. Search Charlene Albanese's public records online. [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. [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". [1], Casey was raised in Queens, New York, moving to Marin County in 1975. The companies own about 70 commercial properties including office spaces and apartment complexes in Marin and Sonoma counties. Resides in Novato, CA. [2] He was a benefactor for Burt's Children Center in San Francisco. "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. 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. 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. 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. 81.4.126.112 Nine previous addresses found, including 210 Monte Vista Ave, Larkspur, CA 94939, USA. Use Next and Previous buttons to navigate. 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. [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". Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes. 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. 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. Casey never attempted to curry favor from me or my office.. 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. Its all dependent on getting fresh suckers, Schild said. However, Casey had a criminal history of fraud and tax evasion. [3], In July 2020, PFI Inc. and PISF Inc. filed for Chapter 11 bankruptcy. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. California man accused of treating thousands of people without a medical license for years, DA says. Charlene Rae Albanese, 74. Heres what I did wrong. Charlene Albanese is 75 years old and was born on 10/15/1947. Novato, CA 94949 Marin County Current Address : 210 Monte Vista Ave, Larkspur, CA 94939 Marin County (Oct 1991 - Apr 2022) 15 Woodside Ct, Novato, CA 94947 [12] Since 1990,[7] he also owned Professional Financial Investors (PFI Inc.),[1] based in Novato, which managed more than "740 apartment units and over 600,000 square feet of commercial warehouse and office suites", according to its website. [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". 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 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. 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. Charlene is related to Alice C Albanese and John J Albanese. 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. 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. Court records indicate that at least two other investors have filed joinders since then. Investors sue amid probe of Marin investment firms It also names the former company president, Lewis Wallach. Get Morning Report and other email newsletters. He said the investigation may take three months or more and that it would suspend all principal and interest payments on the companys collateralized notes as well as new debt financing and investments. All Filters. Stay up to date! [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. Does 350 Ignacio Blvd have any other residents besides Charlene Albanese? [3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. 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. Run a background search to uncover their phone number, address, social photos, emails and more. Email. [12] Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. Like many others, I was shocked to learn of the allegations which have surfaced. 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. [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". [2][4] He married Charlene Albanese[5] and "is survived by his son, Michael Albanese". 2. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. [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'. Real estate licenses in US are issued by state government through agencies like real estate commission or board of professional licensing. 3. Select this result to view Charlene T Albanese's phone number, address, and more. 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. He did not return the call. needs these 5 sites to thrive so the city can recover. He has voluntarily turned over property and money to PFI and PISF. He will plead guilty to the criminal charges that have been filed by the Department of Justice. 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. Ver. 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. Cloudflare Ray ID: 7c0cf24e7ca90bda Casey's ex-wife Charlene Albanese had retained the law firm to handle the transition of Casey's companies to a new owner. 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 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. [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". HOME; SEARCH; MY TREE Start . Dear Abby: Am I overreacting to my European daughter-in-law's behavior? 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. 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. [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. [8] In December 2021, 60 out of the more than 70 properties owned by PFI and PISF were sold for $436.5 million. All Access Digital offer for just 99 cents! I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. In a statement to The Chronicle,. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. 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". However, he had past legal troubles. The investors attorney, Debra Grassgreen, declined to comment. Contact. Like all of the other investors, I am waiting to see what can be preserved.". Your IP: In the past, Charlene has also been known as Charlene R Casey, Charlene R Albenese, Charlene R Albanese, Charle Albanese and Charlene Albauese. 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.. Based on the residence history, we assume that at least two people, including.
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