He divorced his wife, Charlene Albanese, in 1996, but left her the companies. 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. Michael Albanese Profiles | Facebook 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. [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. Run a background search to uncover their phone number, address, social photos, emails and more. [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. Others associated with the Companies also appear to have been involved and benefitted from the scheme, and this investigation is ongoing.. 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 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. Charlene Rae Albanese, 75 - Novato, CA - Reputation & Contact Details 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. Frugoli has said she repaid the loan in full prior to the beginning of any investigtion into the operation of Caseys companies. Albanese has left the board. Search for Criminal & Traffic Records, Bankruptcies. 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. 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. [16] CFO Manuel Romero resigned from the board, "as did real estate investor Lewis Wallach as president". 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. What happened on first day of CHP drug dealing crackdown in S.F. However, he had past legal troubles. Feds investigating massive suspected Marin County Ponzi scheme 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. He maintained complete control of the companies until his death, Hogan said. 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. 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. Get Morning Report and other email newsletters. [2][4] He married Charlene Albanese[5] and "is survived by his son, Michael Albanese". Its like, do I need this in the middle of the worst epidemic in 100 years? Schild said in an interview with The Chronicle. However, those properties have debt exceeding $400 million and his companies owe more than $250 million to investors, he said in court records. Seven investors in a troubled Novato fund are suing in federal court in an effort to salvage their money. [2] The San Francisco Chronicle reported the couple divorced in 1996. The seven investors filed petitions seeking involuntary bankruptcy proceedings on July 16. [18][19], As of October 2020, the SEC investigation continues, and the possibility of other individuals being charged remains. 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. 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 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. [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'. 350 Ignacio Blvd Ste 300, Novato, California, 94949, United States . 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. [3] The SEC alleges that Wallach knew the company was not financially secure at the time he told investors it was. Tel: (415) 898-0875, 4158980875 Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. For example, Hinderliter could be listed as Henderliter. 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. [22], Wallach's attorney, Ed Swanson, responded that Wallach was cooperating with the investigation, and would plead guilty to the criminal charges, having already pled guilty to civil charges. In a June 7 letter to investors, Sternberger said he could not provide an answer on how the investigation might impact their investments. Frugoli borrowed $25,000 from Ken Casey, a Marin County entrepreneur, whose investment firms are now being investigated for potential fraud. 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. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. 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. In July, Wallach had agreed with the companies attorneys to wire $1 million from his limited liability company to PFI and PISF as well as to surrender two properties believed to be worth several million dollars, according to Hogan.

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