.ad_mobile { display:none; } However, those properties have debt exceeding $400 million and his companies owe more than $250 million to investors, he said in court records. [17], Casey was a donor to charitable and theatre causes, and political candidates. [8] In December 2021, 60 out of the more than 70 properties owned by PFI and PISF were sold for $436.5 million. Tel: (415) 898-0875, 4158980875 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. 350 Ignacio Boul, Novato, CA 94949-7202 is the residential address for Charlene. [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". We all deserve a full accounting of our investments, Albanese said. Run a background search to uncover their phone number, address, social photos, emails and more. The U.S. Securities and Exchange Commission started investigating both companies after the death of their founder, Kenneth Casey, in May. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. Death of Marin Real Estate Investor Reveals Allegedly Vast Ponzi Scheme Where did Charlene Albanese formerly reside? We allege that PFI became a classic Ponzi scheme, U.S. Attorney David Anderson said in announcing the charges Tuesday. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? 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. A law firm managing the post-death transition reported financial irregularities to the SEC. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. [6] A 2011 interview of Albanese for a magazine feature about their home stated that Charlene and her husband, Ken Casey purchased a second home in 2003. Wallach joined the company as a bookkeeper in 1990 and was promoted to the companies president in 1998. 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. In a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. The employer for Charlene Rae Albanese is Inc Professional Financial Investors (Real Estate Corporation). Charlene Albanese - Manager, Property - PFI | ZoomInfo He graduated with a Bachelor of Science degree in biology from San Diego State University. The second best result is Charlene T Albanese age 50s in Tonawanda, NY. Sometimes names in public records are misspelled due to silly typos and OCR errors. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. Its pretty scary for a lot of people, he said. 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. This website is using a security service to protect itself from online attacks. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. 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. 3.01.00vd4930. Heis charged with embezzling $26 million from a PFI account to personally enrich himself and using the money to buy personal items such as a Malibu vacation home and luxury cars. Charlene lives in the 94949. 350 IGNACIO BLVD STE 300, NOVATO, CA 94949. The population of the US is 329,484,123 people (estimated 2020). [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. Performance & security by Cloudflare. When investors raised concerns about their investments at the beginning of the coronavirus pandemic, Wallach assured them that the company was financially secure because it had large cash reserves, lines of credit and the ability to sell properties owned free and clear, according to the SEC filing. Our decision-making remains driven by a desire to achieve the best possible outcome under the circumstances for the investors, he wrote. Facebook gives people the. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. 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. 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. Reached Wednesday at his Southern California home in Encino, Wallach declined to comment. 11/20/2022 12:12 PM. 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. [16] Lewis Wallach [8] was CEO since 1998, having been promoted after joining the company in 1990 as a bookkeeper. 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. I was very confident in this company, Cales wrote in a text. [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". [2] The company website claimed over 1,500 investors,[1] and many investors were not aware of Casey's past felonies. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Abrupt closure of S.F. Email. He will plead guilty to the criminal charges that have been filed by the Department of Justice. [1], Casey was raised in Queens, New York, moving to Marin County in 1975. [5] He died on May 6, 2020 at the age of 73 of a heart attack. Charlene Albanese Novato, age 74, female. Company. Jill vs. Jillian), sometimes they use their names international variations (Patrick/Padrig). 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. Last month, both companies filed for bankruptcy. I think most people are surprised at the extent of what Lewis did and were just waiting to see what happens, Lastreto said. We cannot guarantee the accuracy, correctness and/or timeliness of the data. Charlene Albanese in Novato, CA - Spokeo Charlene Albanese's Phone Number and Email. Casey, who died after a heart attack in May, founded the companies. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. 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.. While Sternberger said the news is devastating for investors, he said more information will need to wait. The SEC initiated its investigation on May 28, he said. 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. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. 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. Feds investigating massive suspected Marin County Ponzi scheme She asked me for a loan and I said sure, Casey told the Independent Journal at the time. 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. "[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. This is a carousel. What everybodys looking for is the best structure and circumstances under which to do that, Amini said Wednesday. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. Court documents allege Wallach misappropriated $26 million from 1,300 investors between at least 2015 and 2020. The law firm found several financial irregularities that raised red flags, prompting them to voluntarily approach the SEC. Mr. Join Facebook to connect with Michael Albanese and others you may know. 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. Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. Susan Aiken, who is not a party to the federal case,alleges the companies committed securities fraud. Cloudflare Ray ID: 7c0cf24e7ca90bda 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. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. Frugoli borrowed $25,000 from Ken Casey, a Marin County entrepreneur, whose investment firms are now being investigated for potential fraud.

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