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. We always thought Lewis was a really good guy, Lastreto said. Marker Address Rent ? Charlene Albanese's Phone Number and Email. Albanese was one of those employees; she listed her occupation as real estate agent and her employer as PFI Inc. One of the PFI donations was made by an intern. 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. 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. Your IP: However, those properties have debt exceeding $400 million and his companies owe more than $250 million to investors, he said in court records. What is Charlene Albanese's contact number? The Marin Independent Journal first reported on the federal investigation into Casey's companies in July, as they filed for bankruptcy. California man accused of treating thousands of people without a medical license for years, DA says. 00943394) is an employee of Inc Professional Financial Investors, a Real Estate Corporation (license number 01151855). There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Others associated with the Companies also appear to have been involved and benefitted from the scheme, and this investigation is ongoing.. [2][4] He married Charlene Albanese[5] and "is survived by his son, Michael Albanese". 15 Woodside Ct, Novato, CA 94947, lived here in 2018 $3,200: C. 350 Ignacio Blvd #105, Novato, CA 94949, lived here in 2018 [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. Wallach allegedly used the money to buy a vacation home, luxury cars, coin collections and pay for private school tuition. Email: matthias.gafni@sfchronicle.com 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. Caseys ex-wife Charlene Albanese had retained the law firm to handle the transition of Caseys companies to a new owner. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. Both companies filed for Chapter 11 bankruptcy in August with nervous investors hoping to secure at least part of their investments, which range up to the millions of dollars for some. Our decision-making remains driven by a desire to achieve the best possible outcome under the circumstances for the investors, he wrote. 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. All Access Digital offer for just 99 cents! [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". Foreign surnames can be transliterated and even translated (e.g. [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. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. 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. 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. However, Casey had a criminal history of fraud and tax evasion. [8] The estimated value as of July 2020 of properties owned by the companies was $550million, and the companies owed about $650 million. Frugoli borrowed $25,000 from Ken Casey, a Marin County entrepreneur, whose investment firms are now being investigated for potential fraud. The SEC investigation is ongoing, according to an SEC spokesperson. The employer for Charlene Rae Albanese is Inc Professional Financial Investors (Real Estate Corporation). A hearing in the Marin lawsuit is set forNov. 19. Reached Wednesday at his Southern California home in Encino, Wallach declined to comment. Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. The action you just performed triggered the security solution. [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'. Address. 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. The purported holdings also included nearly 1,000 apartments across 30 properties in Marin and southern Sonoma counties. Last updated on March 06, 2022 at 7:59 PM (PST). We're 100% free for everything!' FamilyTree Now.com FamilyTree Now. The companies own about 70 commercial properties including office spaces and apartment complexes in Marin and Sonoma counties. She was born on Oct 15, 1947. In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. Current address 350 Ignacio Blvd #300, Novato, CA 94949 $3,440: B. An SEC spokeswoman declined to comment. Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey. 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. 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. PFI. Four of the investors are listed as Marin County residents. The SEC initiated its investigation on May 28, he said. 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. 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. View the profiles of people named Charlene Albanese. He covered environment, cannabis and county government for the Eureka Times-Standard and was a contributor to the Monterey Herald. How the investigation will impact the millions of dollars in investments made by nearly 1,000 investors is unclear. 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. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. A proposed judgment submitted to the court in the SEC case would bar him from serving as an officer or director for a public company in the future. [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. 350 IGNACIO BLVD STE 300, NOVATO, CA 94949. Company. All mentioned corporate names and trademarks are the property of their respective owners. Wallach and two other corporate officers resigned in June at the request of Hogan and Sternberger. 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 investors attorney, Debra Grassgreen, declined to comment. I think most people are surprised at the extent of what Lewis did and were just waiting to see what happens, Lastreto said. [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". In a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. 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. Wallach was always very reassuring, Lastreto said, and all of the interest payments were paid on time. What happened on first day of CHP drug dealing crackdown in S.F. A woman answered the phone Monday and took a message for Wallach. [8] The investigation revealed that 20% of PFI properties had no equity. Facebook gives people the. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. 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. Last Update. It seemed like too good to believe, and maybe it was, Lastreto said. The Los Angeles Times and others reported Wallach and his wife had purchased a Malibu beach house formerly owned by actress Judy Garland for more than $3.5 million in 2018. 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 current status of license is Licensed (Active) and it is valid till 06 December, 2022. We will continue to combat fraud targeting our most vulnerable investors, and we encourage all investors to use the resources available on the commissions website to help identify risks and red flags.. Wallach, 64, has served as PFIs president and CEO since 1998. Jay C. Barmann is a fiction writer and web editor who's lived in San Francisco for 20+ years. The news came as a shock to investors such as Phil Lastreto, who invested in the companies in 2012 at the recommendation of a friend. He maintained complete control of the companies until his death, Hogan said. 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. The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. [2] The San Francisco Chronicle reported the couple divorced in 1996. Run a background search to uncover their phone number, address, social photos, emails and more. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. 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. All Access Digital offer for just 99 cents! The law firm found several financial irregularities that raised red flags, prompting them to voluntarily approach the SEC. A. Charlene Albanese Novato, age 74, female. 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. What is the present address for Charlene Albanese? So he was shocked when he received a call from a friend and fellow investor who said all investments and interest payments had been frozen and federal regulators were investigating Caseys companies for running an alleged Ponzi scheme. The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. [2] He was a benefactor for Burt's Children Center in San Francisco. Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. The seven investors filed petitions seeking involuntary bankruptcy proceedings on July 16. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? 3.01.00vd4930. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. He was sentenced to 18 months in prison and three years of probation, according to court and state records. 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. 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. Quite often, people use short versions of their name (i.e. In 1983, he secured a business license for Professional Investors Security Fund Inc. and another license for Professional Financial Investors Inc. in 1990, according to Secretary of State records. I think Ill be lucky to get half of it back and I consider myself lucky because other people had everything they owned invested and Ive heard there are people going on food stamps.. 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. The companies former CEO may have profited from it himself, and he has reportedly reached a settlement with Albanese's lawyers in which he is returning some funds. We cannot guarantee the accuracy, correctness and/or timeliness of the data. Mr. Casey never attempted to curry favor from me or my office.. There are at least 7 records for Charlene Albanese in our database alone. [12] Responding to charges that the company may be reimbursing employees for maximum contributions, Casey stated, "Nobody is getting reimbursed for anything."[12]. Refine Your Search Results. This page is not available in other languages. All Filters. 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.. 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. 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. Funds were frozen to preserve them for the investors, except those relating to bank debt and normal operating expenses, and all officers were removed. The petition for involuntary bankruptcy was filed in the U.S. District Court of Northern California. We allege that PFI became a classic Ponzi scheme, U.S. Attorney David Anderson said in announcing the charges Tuesday. 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. The U.S. Attorneys Office alleges Wallach used investor funds to advance his personal development projects in California and Texas such as oil and gas exploration projects as well as to pay down his credit cards. [16] CFO Manuel Romero resigned from the board, "as did real estate investor Lewis Wallach as president". What everybodys looking for is the best structure and circumstances under which to do that, Amini said Wednesday. 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. Roseville resident Phil Lastreto first met Wallach in 2012 after investing in the companies. (415) 382-6001. Jill vs. Jillian), sometimes they use their names international variations (Patrick/Padrig). Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Hogan and Sternberger have both stated that Albanese had no control of and had not been directing the company or its finances before Caseys death. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. It is quite rare but still happens that a person can be found being listed under a completely different name. Charlene Albanese is a Manager, Property at PFI based in Novato, California. 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. We all deserve a full accounting of our investments, Albanese said. Email. Ver. Join Facebook to connect with Charlene Albanese and others you may know. 2. A copy of the SEC complaint can be found at bit.ly/3ip3B7a. [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. It also names the former company president, Lewis Wallach. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. Make sure to check as many variants as possible. [1], Casey obtained a business license in 1983[7] and founded Professional Investors Security Fund Inc. (PISF Inc.) based in Ignacio, California. 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. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. 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. [17], Casey was a donor to charitable and theatre causes, and political candidates. The investigation does not mean the SEC has concluded that violations of the law have occurred, according to Sternberger. The U.S. Securities and Exchange Commission is investigating two Marin County property management and investment companies following the death of their proprietor. 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. Long vs. Lang). needs these 5 sites to thrive so the city can recover. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. 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. Casey started his companies in 1983, serving as the sole officer until 1998. 81.4.126.112 Im not supporting her to get out of any parking tickets., Frugoli told The Chronicle on Monday that in May she repaid the loan in full prior to any of the recently discovered information about PSIF Inc., Mr. wine startup leaves customers with thousands of Steph Curry adds to his Warriors legend by lighting up Kings for 50. Contact. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. In the past, Charlene has also been known as Charlene R Casey, Charlene R Albenese, Charlene R Albanese, Charle Albanese and Charlene Albauese. 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.
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