Many investors entrusted Ken with their finances, including his employees and friends, as well as myself. 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. Wallach joined the company as a bookkeeper in 1990 and was promoted to the companies president in 1998. Mr. Casey never attempted to curry favor from me or my office.. A copy of the SEC complaint can be found at bit.ly/3ip3B7a. Search Charlene Albanese's public records online. The population of the US is 329,484,123 people (estimated 2020). Search for Criminal & Traffic Records, Bankruptcies. Charlene Rae Albanese has a license type of Real Estate Salesperson which allows a real estate professional to perform services such as selling, buying, renting, auctioning, advertising of real estate properties, but only on behalf of a real estate broker (licensed broker who employs the sales agent). This S.F. The complaint alleges the companies knowingly misled investors and violated the California Securities Act by failing to register the investments as securities. Charlene Albanese Novato, age 74, female. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. 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. Frugoli borrowed $25,000 from Ken Casey, a Marin County entrepreneur, whose investment firms are now being investigated for potential fraud. This website is using a security service to protect itself from online attacks. 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. This alleged Ponzi scheme came crashing down just four months ago after the death of PFIs founder in May 2020. PFI. 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. 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. 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. 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". 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. 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. He covered environment, cannabis and county government for the Eureka Times-Standard and was a contributor to the Monterey Herald. 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. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. 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. Roseville resident Phil Lastreto first met Wallach in 2012 after investing in the companies. Charlene Albanese is a Manager, Property at PFI based in Novato, California. Box, Larkspur, CA 94977 was used in 2017. Get Morning Report and other email newsletters. [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". [7] [2] PISF Inc. donated $300,000 towards a California state gas tax repeal in 2017funds which were then used by Travis Allen in his campaign for governor, according to the Marin IJ. She was born on Oct 15, 1947. Stay up to date! The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. Charlene Albanese lives on Ignacio Blvd in Novato, California. 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 15 Woodside Ct, Novato, CA 94947, lived here in 2018 $3,200: C. 350 Ignacio Blvd #105, Novato, CA 94949, lived here in 2018 Charlene is related to Alice C Albanese and John J Albanese. 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. He has voluntarily turned over property and money to PFI and PISF. Casey died in May 2020 from a heart attack. In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. [8] The investigation revealed that 20% of PFI properties had no equity. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. (415) 382-6001. Our decision-making remains driven by a desire to achieve the best possible outcome under the circumstances for the investors, he wrote. Your Privacy Choices (Opt Out of Sale/Targeted Ads). Wallach could not be reached for comment. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Long vs. Lang). [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. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. 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. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? Marker Address Rent ? The investors attorney, Debra Grassgreen, declined to comment. [8] The SEC's "non-public, fact-finding inquiry" began on May 28, 2020;[14] Michael Hogan was enlisted as the chief restructuring officer,[8] hired by the law firm retained by Albanese. [8] The estimated value as of July 2020 of properties owned by the companies was $550million, and the companies owed about $650 million. Real estate licenses in US are issued by state government through agencies like real estate commission or board of professional licensing. Real estate agents, real estate brokers and realty companies are required to be licensed for conducting real estate transactions in the United States. . 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. Caseys ex-wife Charlene Albanese had retained the law firm to handle the transition of Caseys companies to a new owner. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. 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 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. Sometimes names in public records are misspelled due to silly typos and OCR errors. And theres not an infinite supply of suckers., Matthias Gafni is a San Francisco Chronicle staff writer. Wallach faces both civil and criminal charges for allegedly violating several U.S. securities laws. Facebook gives people the. Charlene Albanese in Novato, CA Charlene Albanese may also have lived outside of Novato, such as Larkspur and San Rafael. The two companies deferred comment to the law firm. 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. 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. 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. He did not return the call. [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. Box 625, Larkspur, CA 94977-0625 was used in 2001, P.O. Charlene Rae Albanese (License No. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. The SEC initiated its investigation on May 28, he said. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. What is Charlene Albanese's contact number? Get the latest posts delivered right to your inbox. We allege that for years Wallach conspired with PFIs founder to fool investors.. 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. * Other possible variations for this name:Sharlene, Charlen, Char, Charline, Carlene, Charlenea. Use this link https://www.linkedin.com/search/results/people/?keywords=Charlene+Albaneseto search employment history, You can find school friends by browsing Classmates.com yearbooks https://www.classmates.com/siteui/search/results?q=Charlene+Albanese&searchType=all. [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. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. @media(max-width: 499px) { .ad_mobile { display:inline-block; min-width: 300px; width:100%; min-height: 100px; } } Funds were frozen to preserve them for the investors, except those relating to bank debt and normal operating expenses, and all officers were removed. 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. [3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. An SEC spokeswoman declined to comment. 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. [12] Responding to charges that the company may be reimbursing employees for maximum contributions, Casey stated, "Nobody is getting reimbursed for anything."[12]. Real estate agents in California can only work on behalf of a licensed real estate broker or real estate company. In fact, Wallach knew that PFI did not have large or even sufficient reserves to meet its obligations, had no lines of credit, and all properties had outstanding debt, the SEC complaint states. 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. It seemed like too good to believe, and maybe it was, Lastreto said. Charlene Albanese can be found on facebook https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX. Last updated on March 06, 2022 at 7:59 PM (PST). This is a carousel. [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". Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. Wallach allegedly used the money to buy a vacation home, luxury cars, coin collections and pay for private school tuition. They have also lived in Meridian, ID and Wheaton, IL. wine startup leaves customers with thousands of Steph Curry adds to his Warriors legend by lighting up Kings for 50. Charlene lives in the 94949. 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. 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. Separately, another investor has filed a class-action lawsuit in Marin County Superior Court. [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". 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. needs these 5 sites to thrive so the city can recover. 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. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. Email. Lastreto said he and other investors hes spoken to are glad that Wallach has been charged, but said the allegations still came as a shock. [12] Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. If this link does not work for you, you can also use FB directory https://www.facebook.com/directory/people/. "[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. Nine previous addresses found, including 210 Monte Vista Ave, Larkspur, CA 94939, USA. [12] Casey, Albanese, Wallach and other PFI or PISF employees had earlier donated to similar political candidates. [16] Lewis Wallach [8] was CEO since 1998, having been promoted after joining the company in 1990 as a bookkeeper. 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. A. 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. 11/20/2022 12:12 PM. He will continue to work with government to remedy the harm he has caused investors.. [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. Ver. 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. The official mailing address of Charlene Rae Albanese is Po Box 625, Larkspur, California, 94977. [2] The company website claimed over 1,500 investors,[1] and many investors were not aware of Casey's past felonies. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? 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 Cliff House was once a colossal Victorian mansion that met a Californias historic snowpack remains massive. View the profiles of people named Charlene Albanese. Property records show Wallach owning an Encino (Los Angeles County) home with his wife purchased more than a decade ago for $3.5 million. Lastretos former sister-in-law Donna Cales, a Roseville resident and investor in the companies since 2015, said the companies have always been professional and that her investment had been handled with care. [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. What happened on first day of CHP drug dealing crackdown in S.F. 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. Twitter account. Like many others, I was shocked to learn of the allegations which have surfaced. 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. Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes.
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