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. 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. 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. Feds investigating massive suspected Marin County Ponzi scheme I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. Foreign surnames can be transliterated and even translated (e.g. Lori Frugoli is sworn in as Marin County District Attorny on Jan. 4, 2019 in this photo posted to the MarinGov. Get info on Charlene Rae Albanese - Novato, California - (415) 927-2290. [8] The investigation revealed that 20% of PFI properties had no equity. 2. Search Charlene Albanese's public records online. 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. Charlene Albanese Novato, age 74, female. The Cliff House was once a colossal Victorian mansion that met a Californias historic snowpack remains massive. [2] The San Francisco Chronicle reported the couple divorced in 1996. [7] He operated Kenneth J. Casey, An Accountancy Corp., until his CPA certificate was revoked in 1998 after he was convicted in 1997 of felony violations for fraud and tax evasion. 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. They have also lived in Meridian, ID and Wheaton, IL. Current address 350 Ignacio Blvd #300, Novato, CA 94949 $3,440: B. In the past, Charlene has also been known as Charlene R Casey, Charlene R Albenese, Charlene R Albanese, Charle Albanese and Charlene Albauese. [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". 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. Michael Albanese Profiles | Facebook [2] The company website claimed over 1,500 investors,[1] and many investors were not aware of Casey's past felonies. Last updated on March 06, 2022 at 7:59 PM (PST). 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. Like many others, I was shocked to learn of the allegations which have surfaced. .ad_mobile { display:none; } Performance & security by Cloudflare. All Access Digital offer for just 99 cents! The purported holdings also included nearly 1,000 apartments across 30 properties in Marin and southern Sonoma counties. Make sure to check as many variants as possible. 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. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. Charlene has seen four cities, including Belvedere Tiburon, CA and Novato, CA. The official mailing address of Charlene Rae Albanese is Po Box 625, Larkspur, California, 94977. As alleged in our complaint, Wallach engaged in an egregious fraud that deprived many older investors of their hard-earned savings and retirement funds, the SECs San Francisco regional office director Erin Schneider said in a statement. We cannot guarantee the accuracy, correctness and/or timeliness of the data. Charlene Rae Albanese - Novato, California - (415) 927-2290 If this link does not work for you, you can also use FB directory https://www.facebook.com/directory/people/. Refine Your Search Results. The same person can appear under different names in public records. Which cities has Charlene Albanese visited? The U.S. Securities and Exchange Commission is investigating two Marin County property management and investment companies following the death of their proprietor. Dear Abby: Am I overreacting to my European daughter-in-law's behavior? [11] An audit raised "legitimate questions involving the structure and investment history of Mr. Casey's companies", according to partner of the law firm,[14] and the SEC was asked to investigate. 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. 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. 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. Click to reveal Its like, do I need this in the middle of the worst epidemic in 100 years? Schild said in an interview with The Chronicle. Wallach, 64, has served as PFIs president and CEO since 1998. However, those properties have debt exceeding $400 million and his companies owe more than $250 million to investors, he said in court records. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. Like all of the other investors, I am waiting to see what can be preserved.". This is a carousel. The second best result is Charlene T Albanese age 50s in Tonawanda, NY. [16] CFO Manuel Romero resigned from the board, "as did real estate investor Lewis Wallach as president". Jill vs. Jillian), sometimes they use their names international variations (Patrick/Padrig). The current status of license is Licensed (Active) and it is valid till 06 December, 2022. [5] He died on May 6, 2020 at the age of 73 of a heart attack. "Words cannot express my deep shock concerning information that has. Professional Financial Investors Inc.s website is no longer operational, though the company continues to operate, according to Sternbergers letters. He maintained complete control of the companies until his death, Hogan said. Stay up to date! He refused to let it end in Game 7, Do Not Sell/Share My Personal Information. [8] In December 2021, 60 out of the more than 70 properties owned by PFI and PISF were sold for $436.5 million. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. Susan Aiken, who is not a party to the federal case,alleges the companies committed securities fraud. All mentioned corporate names and trademarks are the property of their respective owners. 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. Four of the investors are listed as Marin County residents. 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. This alleged Ponzi scheme came crashing down just four months ago after the death of PFIs founder in May 2020. The population of the US is 329,484,123 people (estimated 2020). It is unclear whether more individuals associated with the company will be charged. needs these 5 sites to thrive so the city can recover. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. Facebook gives people the. Big shift in weather is headed to California. Casey's ex-wife Charlene Albanese had retained the law firm to handle the transition of Casey's companies to a new owner. There are at least 7 records for Charlene Albanese in our database alone. 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. Lastreto said he mostly worked with Professional Financial Investors Inc. president Lewis Wallach, and rarely if ever interacted with Casey. 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. [12] Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. 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.. 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.. The third result is Charlene Larue Albanese age 80+ in Santa Rosa, CA. The two companies deferred comment to the law firm. 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. Casey became a certified public accountant in 1977 but lost his certification after being convicted of the charges. The launch of the SEC investigation resulted in the suspension of new investment and interest payments, leaving many investors uncertain of whether they will recover their money. [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. [11][15] Albanese became active director during the transition,[8] making $11,000 every two weeks and the North Bay Business Journal reported "some involved with the proceedings not knowing what she was doing for that salary, Hogan indicated". [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. A proposed judgment submitted to the court in the SEC case would bar him from serving as an officer or director for a public company in the future. Court documents allege Wallach misappropriated $26 million from 1,300 investors between at least 2015 and 2020. [3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. He was sentenced to 18 months in prison and three years of probation, according to court and state records. Charlene Albanese in Novato, CA - Spokeo The investors attorney, Debra Grassgreen, declined to comment. Box, Larkspur, CA 94977 was used in 2017. [7] [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'. Novato investor linked to GOP donation flap - Marin Independent Journal Get the latest posts delivered right to your inbox. In a letter on Friday, Hogan told investors that he is working with the companies restructuring team to evaluate an appropriate response.. [18][19], As of October 2020, the SEC investigation continues, and the possibility of other individuals being charged remains. Charlene Rae Albanese, 75 - Novato, CA - Reputation & Contact Details He will continue to work with government to remedy the harm he has caused investors.. This website is using a security service to protect itself from online attacks. 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.. He said hed likely have to sell his Oakland condominium to pay off his debt. 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. 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. 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. Wallach was always very reassuring, Lastreto said, and all of the interest payments were paid on time. Your IP: Death of Marin Real Estate Investor Reveals Allegedly Vast Ponzi Scheme Facebook gives people the. In earlier correspondence, Hogan warned clients of serious misconduct at the companies and said the recovery of their investments could occur on two paths: bankruptcy or receivership. Based on the residence history, we assume that at least two people, including. 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. We all deserve a full accounting of our investments, Albanese said. 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. Hogan estimates Caseys companies owned interests in about 70 real estate properties with an estimated worth of more than $550 million. 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. 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. View phone number, full address and more on 411.info. PFI. She may also be known by the following alternative names: Charlene Allanese, Charlene R Albanese, Charlene R Casey, Charle Albanese, Charlene Albanese, Charlene Casey. Having seen the changes in Marin throughout his life and knowing how difficult new development is, Lastreto said he and others saw how valuable it would be to invest in real estate. Charlene Albanese can be found on facebook https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX. 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 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. 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. I think most people are surprised at the extent of what Lewis did and were just waiting to see what happens, Lastreto said. Cloudflare Ray ID: 7c0cf24e7ca90bda Sometimes names in public records are misspelled due to silly typos and OCR errors. 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. [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. Abrupt closure of S.F. [2] Spotswood stated that Burt's Children Center had closed in 2010, and that "NextGen Marin was mostly a housing advocacy online presence". 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. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. Others associated with the Companies also appear to have been involved and benefitted from the scheme, and this investigation is ongoing.. Charlene Albanese Profiles | Facebook 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. Does 350 Ignacio Blvd have any other residents besides Charlene Albanese? Use Next and Previous buttons to navigate. View the profiles of people named Michael Albanese. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? Charlene Albanese lives on Ignacio Blvd in Novato, California. 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. 3. The complaint alleges the companies knowingly misled investors and violated the California Securities Act by failing to register the investments as securities. [8] Hogan stated that the investors would be best served by pursuing bankruptcy. Casey, who died after a heart attack in May, founded the companies. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. Heres what I did wrong. 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. (adsbygoogle = window.adsbygoogle || []).push({}); In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. Get Morning Report and other email newsletters. Resides in Novato, CA. Company. Albanese has left the board. Will Houston covers environment, transportation, West Marin and the city of Novato for the Marin IJ. Nine previous addresses found, including 210 Monte Vista Ave, Larkspur, CA 94939, USA. [2] He was a benefactor for Burt's Children Center in San Francisco.