Get the latest posts delivered right to your inbox. 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. These licenses provide agents and brokers the legal ability to represent a home seller or buyer in the process of buying or selling real estate. He maintained complete control of the companies until his death, Hogan said. [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. 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.. 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.. The petition gives the company 21 days to consent to or contest the bankruptcy filing. 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.. She may also be known by the following alternative names: Charlene Allanese, Charlene R Albanese, Charlene R Casey, Charle Albanese, Charlene Albanese, Charlene Casey. Search Charlene Albanese's public records online. [2] He played soccer when young and was an outdoorsman later in life, making a dog sled expedition to the North Pole. 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. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. [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 are the other possible names for Charlene Albanese? Roseville resident Phil Lastreto first met Wallach in 2012 after investing in the companies. She asked me for a loan and I said sure, Casey told the Independent Journal at the time. He covered environment, cannabis and county government for the Eureka Times-Standard and was a contributor to the Monterey Herald. View Public Record Results ✓ Addresses. [5] He died on May 6, 2020 at the age of 73 of a heart attack. 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.. 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. 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. Ver. Charlene Rae Albanese (License No. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. The action you just performed triggered the security solution. This website is using a security service to protect itself from online attacks. 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. 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. We're 100% free for everything!' FamilyTree Now.com FamilyTree Now. Casey's ex-wife Charlene Albanese had retained the law firm to handle the transition of Casey's companies to a new owner. Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. 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. 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. 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. Read More. 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. 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. . Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. Big shift in weather is headed to California. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? Charlene Rae Albanese, 74. Our overriding goal here is to increase the size of the pie if we can and help investors recover as much as their investments as we possibly can, said Michael Schrag, a lawyer for Aiken. 2. Charlene Albanese Novato, age 74, female. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. A spokesman for the SEC declined to comment about the investigation this week. Wallach and two other corporate officers resigned in June at the request of Hogan and Sternberger. It is quite rare but still happens that a person can be found being listed under a completely different name. Feds scrutinize Marin investment firms after death of owner Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes. Caseys ex-wife Charlene Albanese had retained the law firm to handle the transition of Caseys companies to a new owner. "Words cannot express my deep shock concerning information that has. The companies were marketed as a leading commercial real estate owner in Marin County, with nearly 600,000 square feet of commercial warehouse and office space. Join Facebook to connect with Michael Albanese and others you may know. [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. Jill vs. Jillian), sometimes they use their names international variations (Patrick/Padrig). The two companies deferred comment to the law firm. 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. Wallach was always very reassuring, Lastreto said, and all of the interest payments were paid on time. Michael Albanese Profiles | Facebook Heres what I did wrong. Charlene Albanese in Novato, CA - Spokeo 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. 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. wine startup leaves customers with thousands of Steph Curry adds to his Warriors legend by lighting up Kings for 50. He said hed likely have to sell his Oakland condominium to pay off his debt. 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. [12] Responding to charges that the company may be reimbursing employees for maximum contributions, Casey stated, "Nobody is getting reimbursed for anything."[12]. 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. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. PFI. 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. 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. View the profiles of people named Michael Albanese. The caller said hed kidnapped my wife. [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'. 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 to sort out a major financial mess. Property records show Wallach owning an Encino (Los Angeles County) home with his wife purchased more than a decade ago for $3.5 million. 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. A court declaration filed by Hogan stated Wallach appeared to have benefitted from how the companies were managed. [2] Spotswood stated that Burt's Children Center had closed in 2010, and that "NextGen Marin was mostly a housing advocacy online presence". Charlene Albanese in Novato, CA - (415) 898-0875, 4158980875 | 411 Here are their demands, Downtown S.F. 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. 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. Hogan estimates Caseys companies owned interests in about 70 real estate properties with an estimated worth of more than $550 million. The 63-year-old is one of more than 1,000 investors scrambling to recover hundreds of millions of dollars from the alleged Ponzi scheme involving Casey, who died in May from a heart attack. .ad_mobile { display:none; } A lawyer representing the company, Eric Sternberger, declined to comment Tuesday and deferred to Hogans letter. Long vs. Lang). Facebook gives people the. He did not return the call. The U.S. Securities and Exchange Commission is investigating two Marin County property management and investment companies following the death of their proprietor. The petition for involuntary bankruptcy was filed in the U.S. District Court of Northern California. In a statement to The Chronicle,. 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). 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. [12] Casey, Albanese, Wallach and other PFI or PISF employees had earlier donated to similar political candidates. Casey became a certified public accountant in 1977 but lost his certification after being convicted of the charges. This is in part due to the variability of the investor types, he said, which include members of limited liability companies and various types of lenders. Which cities has Charlene Albanese visited? For example, Hinderliter could be listed as Henderliter.