They had 35+ years great record. Charlene Albanese lives in Novato, CA; previous city include Larkspur CA. A law firm managing the post-death transition reported financial irregularities to the SEC. These licenses provide agents and brokers the legal ability to represent a home seller or buyer in the process of buying or selling real estate. 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. Albanese was one of those employees; she listed her occupation as real estate agent and her employer as PFI Inc. One of the PFI donations was made by an intern. [2] PISF Inc. donated $300,000 towards a California state gas tax repeal in 2017funds which were then used by Travis Allen in his campaign for governor, according to the Marin IJ. He will plead guilty to the criminal charges that have been filed by the Department of Justice. [12] Casey, Albanese, Wallach and other PFI or PISF employees had earlier donated to similar political candidates. A woman answered the phone Monday and took a message for Wallach. The seven investors filed petitions seeking involuntary bankruptcy proceedings on July 16. 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. In a statement to The Chronicle,. Robin Schild poses for a portrait at his home on Wednesday, August 5, 2020, in Albany, Calif. Robin invested a total of $650K, starting in 2016, in an alleged Ponzi scheme by dead Novato businessman Ken Casey. The SEC investigation is ongoing, according to an SEC spokesperson. He said hed likely have to sell his Oakland condominium to pay off his debt. Roseville resident Phil Lastreto first met Wallach in 2012 after investing in the companies. [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". Casey, who died after a heart attack in May, founded the companies. I was very confident in this company, Cales wrote in a text. Stay up to date! Dear Abby: Am I overreacting to my European daughter-in-law's behavior? I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. This alleged Ponzi scheme came crashing down just four months ago after the death of PFIs founder in May 2020. 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 is investigating two Marin County property management and investment companies following the death of their proprietor. Contact. We allege that PFI became a classic Ponzi scheme, U.S. Attorney David Anderson said in announcing the charges Tuesday. Use Next and Previous buttons to navigate. He was sentenced to 18 months in prison, according to court records. For example, Hinderliter could be listed as Henderliter. 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. [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. The Cliff House was once a colossal Victorian mansion that met a Californias historic snowpack remains massive. 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. Feds charge former Bay Area businessman in, 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 charge former Bay Area businessman in massive Ponzi scheme, Former Silicon Valley startup CEO pleads guilty to federal fraud charges, Stanfords Sam Bankman-Fried dined with Mohammed bin Salman and Jared Kushner to get Saudi money: report. Funds were frozen to preserve them for the investors, except those relating to bank debt and normal operating expenses, and all officers were removed. Abrupt closure of S.F. The U.S. Securities and Exchange Commission started investigating both companies after the death of their founder, Kenneth Casey, in May. 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. 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. [1], Casey obtained a business license in 1983[7] and founded Professional Investors Security Fund Inc. (PISF Inc.) based in Ignacio, California. [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. [1], Casey became a certified public accountant (CPA) in 1977. Search Charlene Albanese's public records online. Company. [2][4] He married Charlene Albanese[5] and "is survived by his son, Michael Albanese". Charlene lives in the 94949. Last month, both companies filed for bankruptcy. What are the other possible names for Charlene Albanese? [1], Casey was raised in Queens, New York, moving to Marin County in 1975. What everybodys looking for is the best structure and circumstances under which to do that, Amini said Wednesday. [2] Spotswood stated that Burt's Children Center had closed in 2010, and that "NextGen Marin was mostly a housing advocacy online presence". Charlene Rae Albanese, 74. Email. [17], Casey was a donor to charitable and theatre causes, and political candidates. Our decision-making remains driven by a desire to achieve the best possible outcome under the circumstances for the investors, he wrote. Frugoli has said she repaid the loan in full prior to the beginning of any investigtion into the operation of Caseys companies. [3], Casey was one of Marin County's longest-serving members of the Human Rights Commission, serving from 2015 until his death. [17] More than a thousand individuals had their investments "co-mingled with potential ill-gotten gains", according to Hogan. Wallach and two other corporate officers resigned in June at the request of Hogan and Sternberger. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Get Morning Report and other email newsletters. 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. Cloudflare Ray ID: 7c0cf24e7ca90bda Long vs. Lang). Caseys ex-wife Charlene Albanese had retained the law firm to handle the transition of Caseys companies to a new owner. Charlene Rae Albanese has real estate license number 00943394 which was issued by California Real Estate Department on 07 December, 2018. The two companies deferred comment to the law firm. 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. The companies own about 70 commercial properties including office spaces and apartment complexes in Marin and Sonoma counties. The petition gives the company 21 days to consent to or contest the bankruptcy filing. 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. The investigation does not mean the SEC has concluded that violations of the law have occurred, according to Sternberger. [1] Business [ edit] Casey became a certified public accountant (CPA) in 1977. Ver. Charlene Rae Albanese has a license type of Real Estate Salesperson which allows a real estate professional to perform services such as selling, buying, renting, auctioning, advertising of real estate properties, but only on behalf of a real estate broker (licensed broker who employs the sales agent).