And theres not an infinite supply of suckers., Matthias Gafni is a San Francisco Chronicle staff writer. His attorney, Ed Swanson of the San Francisco-based Swanson & McNamara LLP provided a statement: For the past few months, Mr. Wallach has fully cooperated with the Department of Justice and the SEC in their investigations. .ad_mobile { display:none; } He will continue to work with government to remedy the harm he has caused investors.. 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. Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. 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.. A law firm managing the post-death transition reported financial irregularities to the SEC. A. 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. Note, Facebook may ask you to prove you're not a bot - just solve CAPTCHA. * Other possible variations for this name:Sharlene, Charlen, Char, Charline, Carlene, Charlenea. There are at least 7 records for Charlene Albanese in our database alone. Separately, another investor has filed a class-action lawsuit in Marin County Superior Court. The same person can appear under different names in public records. 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. The two companies deferred comment to the law firm. Email. It is unclear whether more individuals associated with the company will be charged. Reach the author at whouston@marinij.com or follow Will on Twitter: @Will_S_Houston, Investors sue amid probe of Marin investment firms, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to email a link to a friend (Opens in new window), Marin Transit to end some services amid low ridership, Sausalito serves as setting for new Apple TV+ show, San Rafael private high school slated to close, San Rafael robbery target shot in Canal area, Novato wetland renamed following petition by park ranger, Mill Valley parents, teachers protest class cutbacks, contract talks, Marin sheriff seeks appraisal ahead of oversight decision, Tam district stops all classes for anti-fentanyl webinar, Marin officials envision training, housing center for firefighters, Marin workforce training program for Latinos bolstered by $524K grant, Bay Area celebrates Opening Day on the Bay, Facebook owner chops more than 1,500 Bay Area jobs as tech layoffs soar, Terra Linda's Solstice Loop a favorite for mountain bikers is a tough, rough and steep hike, New sea-level rise study to focus on Marin transportation system, Do Not Sell/Share My Personal Information. "Novato businessman, philanthropist Ken Casey dies at 73", "Feds charge former Novato businessman in massive 'Ponzi scheme', "Feds investigating massive suspected Marin County Ponzi scheme involving dead real estate investor", "Feds scrutinize Marin investment firms after death of owner", "Feds scrutinize two firms after death of owner", "Novato investment firms file for bankruptcy amid probe", "Consultant: Marin investment firms committed 'serious misconduct', "Novato investor linked to GOP donation flap", "SEC Investigating Marin County Real Estate Company After Owner's Death", "SEC to probe deceased Marin County investor Ken Casey's businesses", "Informational Memo regarding Professional Financial Investors, Inc. ("PFI") and Professional Investors Security Fund, Inc. ("PISF")", "Real estate investor bankruptcy hearing raises allegation of a Ponzi scheme", "Marin County Real Estate Firm Reports 20% of Its Properties Have No Equity", "Why these North Bay commercial property transactions are a big deal", "Ex-CEO Of Novato Firm Charged In Alleged $350M Ponzi Scheme", "Criminal charges filed in Marin County real estate Ponzi case involving 1,300 investors", "Investors Try to Push Mysterious California Real Estate Empire Into Bankruptcy", https://en.wikipedia.org/w/index.php?title=Kenneth_J._Casey&oldid=1144775100, This page was last edited on 15 March 2023, at 14:09. The law firm found several financial irregularities that raised red flags, prompting them to voluntarily approach the SEC. [3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. 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. Money taken from new investors was allegedly used to pay existing investors while losses mounted behind the scenes. Charlene Rae Albanese, 74. 350 Ignacio Blvd Ste 300, Novato, California, 94949, United States . You can email the site owner to let them know you were blocked. An SEC spokeswoman declined to comment. He divorced his wife, Charlene Albanese, in 1996, but left her the companies. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. 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. The population of the US is 329,484,123 people (estimated 2020). Heres what I did wrong. 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. 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. Caseys ex-wife Charlene Albanese had retained the law firm to handle the transition of Caseys companies to a new owner. A court declaration filed by Hogan stated Wallach appeared to have benefitted from how the companies were managed. 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. [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. Ver. 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. [8] In December 2021, 60 out of the more than 70 properties owned by PFI and PISF were sold for $436.5 million. @media(max-width: 499px) { .ad_mobile { display:inline-block; min-width: 300px; width:100%; min-height: 100px; } } Get Morning Report and other email newsletters. 15 Woodside Ct, Novato, CA 94947, lived here in 2018 $3,200: C. 350 Ignacio Blvd #105, Novato, CA 94949, lived here in 2018 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. 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. The complaint alleges the companies knowingly misled investors and violated the California Securities Act by failing to register the investments as securities. 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. 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. 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. [5] He died on May 6, 2020 at the age of 73 of a heart attack. Funds were frozen to preserve them for the investors, except those relating to bank debt and normal operating expenses, and all officers were removed. Wallach and two other corporate officers resigned in June at the request of Hogan and Sternberger. 81.4.126.112 [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'. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. Click to reveal Its interesting for them to do a fact-finding investigation, but why would they freeze everything unless they thought there was something inappropriate that had gone on? Lastreto said. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. Casey, who died after a heart attack in May, founded the companies. Last updated on March 06, 2022 at 7:59 PM (PST). Join Facebook to connect with Charlene Albanese and others you may know. [8] The estimated value as of July 2020 of properties owned by the companies was $550million, and the companies owed about $650 million. [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. He maintained complete control of the companies until his death, Hogan said. Based on the residence history, we assume that at least two people, including. While Sternberger said the news is devastating for investors, he said more information will need to wait. Charlene Albanese lives in Novato, CA; previous city include Larkspur CA. The investigation does not mean the SEC has concluded that violations of the law have occurred, according to Sternberger. This S.F. [3], In July 2020, PFI Inc. and PISF Inc. filed for Chapter 11 bankruptcy. 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. 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. Quite often, people use short versions of their name (i.e. In a statement to The Chronicle,. They now question whether more officials from the Novato companies profited off the three decades of a Ponzi-like operation, according to bankruptcy records reviewed by The Chronicle. (415) 382-6001. He was sentenced to 18 months in prison, according to court records. 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. Company. In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. View the profiles of people named Michael Albanese. The SEC initiated its investigation on May 28, he said. Many investors entrusted Ken with their finances, including his employees and friends, as well as myself. Facebook gives people the. However, those properties have debt exceeding $400 million and his companies owe more than $250 million to investors, he said in court records. Get info on Charlene Rae Albanese - Novato, California - (415) 927-2290. [2] He played soccer when young and was an outdoorsman later in life, making a dog sled expedition to the North Pole. Charlene Rae Albanese (License No. 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". 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 phone number, full address and more on 411.info. 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. Like all of the other investors, I am waiting to see what can be preserved.". A hearing in the Marin lawsuit is set forNov. 19. What happened on first day of CHP drug dealing crackdown in S.F. 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. 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. [7] He has voluntarily turned over property and money to PFI and PISF. Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. She may also be known by the following alternative names: Charlene Allanese, Charlene R Albanese, Charlene R Casey, Charle Albanese, Charlene Albanese, Charlene Casey. Join Facebook to connect with Michael Albanese and others you may know. Charlene Rae Albanese, 75 - Novato, CA - Reputation & Contact Details This page is not available in other languages. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. 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. The petition gives the company 21 days to consent to or contest the bankruptcy filing. [1], Casey was raised in Queens, New York, moving to Marin County in 1975. Michael Albanese Profiles | Facebook He did not return the call. Charlene Albanese Novato, age 74, female. Casey had recently become active in donating to Republican causes, including a $300,000 donation from Caseys companies to a committee created to advocate for the repeal of the states gas tax. 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. Charlene Albanese can be found on facebook https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX. Casey started his companies in 1983, serving as the sole officer until 1998. Its pretty scary for a lot of people, he said. The U.S. Attorneys Office and Federal Bureau of Investigation led a separate criminal investigation. Address. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. 2. Charlene Rae Albanese is a licensed real estate salesperson in the city of Larkspur, California. Four of the investors are listed as Marin County residents. However, he had past legal troubles. [3], Hogan described the company operations as a "Ponzi scheme-like operation", saying new investments "were used to service the debt owed to existing investors and to personally enrich Mr. Casey himself". Twitter account. Its like, do I need this in the middle of the worst epidemic in 100 years? Schild said in an interview with The Chronicle. 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. 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. The U.S. Securities and Exchange Commission started investigating both companies after the death of their founder, Kenneth Casey, in May. Court documents allege Wallach misappropriated $26 million from 1,300 investors between at least 2015 and 2020. It is possible (but not certain) that each of the four categories of investments noted above will be affected, Sternberger wrote, but affected to varying degrees depending on the type of investment and several other factors that we are analyzing.. The official mailing address of Charlene Rae Albanese is Po Box 625, Larkspur, California, 94977. All Access Digital offer for just 99 cents! They also indicate Wallach owned a beachfront Malibu property that is now renting for $30,000 a month. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. She was born on Oct 15, 1947. 11/20/2022 12:12 PM. Contact. 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. Make sure to check as many variants as possible. Charlene Albanese - Manager, Property - PFI | ZoomInfo The SEC has a five-year statute of limitations to file the charges, according to an SEC spokesperson. He will plead guilty to the criminal charges that have been filed by the Department of Justice. San Francisco officials announced this week the City will stop acquiring new shelter-in-place hotel rooms, the CDC is now not recommending face masks with ventilators to be worn to prevent the spread of COVID-19, and a crowd of Trump supporters has shut down an overpass in Novato because 2020. 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.. Real estate licenses in US are issued by state government through agencies like real estate commission or board of professional licensing. Reached Wednesday at his Southern California home in Encino, Wallach declined to comment. Full Name, Age, Job and Education Records, View Social Media Profiles & Photos in One Place, Estimated values of property, vehicles, aircraft and watercraft, These are the people who lived at the same address and at the same time as this person, By using tree view and force view visualization techniques, you can discover potential connections between people based on information about their previous addresses. The second best result is Charlene T Albanese age 50s in Tonawanda, NY. Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey. The state panel is preparing a final report that will suggest how to compensate Black residents to address the harms caused by the states history of slavery. [12] Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. 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. He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. Abrupt closure of S.F. Wallach could not be reached for comment. [2] He was a benefactor for Burt's Children Center in San Francisco. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. HUD has the following fair market rent values (mar 2022): ClustrMaps.com aggregates public records to analyze the US cities, their social demography, and business environment. HOME; SEARCH; MY TREE Start . We cannot guarantee the accuracy, correctness and/or timeliness of the data. View Public Record Results ✓ Addresses. 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. Susan Aiken, who is not a party to the federal case,alleges the companies committed securities fraud. [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. Charlene Albanese in Novato, CA - Spokeo 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. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Charlene Rae Albanese in Larkspur, California - Real Estate Agent 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 faces both civil and criminal charges for allegedly violating several U.S. securities laws. He also donated to Travis Allens and John Coxs unsuccessful runs for governor. All Access Digital offer for just 99 cents! In the past, Charlene has also been known as Charlene R Casey, Charlene R Albenese, Charlene R Albanese, Charle Albanese and Charlene Albauese.