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. Charlene Albanese lives on Ignacio Blvd in Novato, California. A law firm managing the post-death transition reported financial irregularities to the SEC. [8] In December 2021, 60 out of the more than 70 properties owned by PFI and PISF were sold for $436.5 million. 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I was very confident in this company, Cales wrote in a text. Kenneth J. Casey - Wikipedia [5] He died on May 6, 2020 at the age of 73 of a heart attack. Feds investigating massive suspected Marin County Ponzi scheme Charlene Albanese in Novato, CA Charlene Albanese may also have lived outside of Novato, such as Larkspur and San Rafael. 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. In the past, Charlene has also been known as Charlene R Casey, Charlene R Albenese, Charlene R Albanese, Charle Albanese and Charlene Albauese. 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. Attacks on delivery drivers add to gig workers fears, Search for missing Oklahoma teens leads to house, 7 dead, Los Banos woman killed in crash east of Gilroy, False alarms, few leads as search drags on for Texas gunman, Harriette Cole: My friend's mom didn't recognize me at my job, and she was very rude. Wallach joined the company as a bookkeeper in 1990 and was promoted to the companies president in 1998. Foreign surnames can be transliterated and even translated (e.g. 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. 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. 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 petition gives the company 21 days to consent to or contest the bankruptcy filing. 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. (adsbygoogle = window.adsbygoogle || []).push({}); Twitter account. We cannot guarantee the accuracy, correctness and/or timeliness of the data. Charlene Albanese Profiles | Facebook 3.01.00vd4930. [17] More than a thousand individuals had their investments "co-mingled with potential ill-gotten gains", according to Hogan. Wallach was always very reassuring, Lastreto said, and all of the interest payments were paid on time. 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.. Hogan estimates Caseys companies owned interests in about 70 real estate properties with an estimated worth of more than $550 million. Get Morning Report and other email newsletters. There are at least 7 records for Charlene Albanese in our database alone. He has voluntarily turned over property and money to PFI and PISF. Its all dependent on getting fresh suckers, Schild said. Its pretty scary for a lot of people, he said. That was two days afterMichael Hogan, a restructuring specialist hired to manage the companies during the SEC probe, informed more than 1,000 investors that there will likely be insufficient equity to permit the return of all the principal to some of them. Contact. Separately, another investor has filed a class-action lawsuit in Marin County Superior Court. If this link does not work for you, you can also use FB directory https://www.facebook.com/directory/people/. Search Charlene Albanese's public records online. Nine previous addresses found, including 210 Monte Vista Ave, Larkspur, CA 94939, USA. Last Update. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. What is the present address for Charlene Albanese? [8] The investigation revealed that 20% of PFI properties had no equity. Use Next and Previous buttons to navigate. 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. 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. Abrupt closure of S.F. [1], Casey obtained a business license in 1983[7] and founded Professional Investors Security Fund Inc. (PISF Inc.) based in Ignacio, California. Make sure to check Marin county records. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? HOME; SEARCH; MY TREE Start . 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. Real estate licenses in US are issued by state government through agencies like real estate commission or board of professional licensing. He graduated with a Bachelor of Science degree in biology from San Diego State University. Wallach, 64, has served as PFIs president and CEO since 1998. 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". [16] CFO Manuel Romero resigned from the board, "as did real estate investor Lewis Wallach as president". The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. 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. This page is not available in other languages. 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. 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. [2][4] He married Charlene Albanese[5] and "is survived by his son, Michael Albanese". Casey's ex-wife Charlene Albanese had retained the law firm to handle the transition of Casey's companies to a new owner. And theres not an infinite supply of suckers., Matthias Gafni is a San Francisco Chronicle staff writer. 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. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. He will continue to work with government to remedy the harm he has caused investors.. [5] He died on May 6, 2020 at the age of 73 of a heart attack. Facebook gives people the. 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.. Court documents allege Wallach misappropriated $26 million from 1,300 investors between at least 2015 and 2020. The purported holdings also included nearly 1,000 apartments across 30 properties in Marin and southern Sonoma counties. 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. 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. 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. Join Facebook to connect with Charlene Albanese and others you may know. [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". Click to reveal We all deserve a full accounting of our investments, Albanese said. Frugoli has said she repaid the loan in full prior to the beginning of any investigtion into the operation of Caseys companies. All Access Digital offer for just 99 cents! 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. He said hed likely have to sell his Oakland condominium to pay off his debt. Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? 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. 00943394) is an employee of Inc Professional Financial Investors, a Real Estate Corporation (license number 01151855). Everything may still be fine, but we must wait to find out., In the past week, Lastreto said he and acquaintances who have also invested in the companies have been in the dark on what is going on, which has led to some blue-sky speculation.. She asked me for a loan and I said sure, Casey told the Independent Journal at the time. Charlene Rae Albanese, 75 - Novato, CA - Reputation & Contact Details Its like, do I need this in the middle of the worst epidemic in 100 years? Schild said in an interview with The Chronicle. Caseys ex-wife Charlene Albanese had retained the law firm to handle the transition of Caseys companies to a new owner. 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. It seemed like too good to believe, and maybe it was, Lastreto said.
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