Company operations are stable, Chapter 11 has been filed, and I am resigning from the director position so professionals and creditors can appoint a qualified independent director, she continued. After Ken Casey died last month at age 73, the San Rafael law firm Ragghianti Freitas LLP was brought on to facilitate the ownership transfer of his Novato companies, Professional Financial Investors Inc. and Professional Investors Security Fund Inc. Attorney Eric Sternberger said the companies voluntarily approached the SEC after a review of the businesses conducted by his law firm raised legitimate questions involving the structure and investment history of Mr. Caseys companies.. 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. Sometimes names in public records are misspelled due to silly typos and OCR errors. Current address 350 Ignacio Blvd #300, Novato, CA 94949 $3,440: B. I am heartbroken and sick to my stomach that so many investors, myself included, have been devastated by Kens actions. A spokesman for the SEC declined to comment about the investigation this week. Dear Abby: I have a great life, so why have I fallen into this shameful behavior? There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. We all deserve a full accounting of our investments, Albanese said. Nine previous addresses found, including 210 Monte Vista Ave, Larkspur, CA 94939, USA. Reached Wednesday at his Southern California home in Encino, Wallach declined to comment. However, Casey had a criminal history of fraud and tax evasion. [8] Writing in the Marin Independent Journal (Marin IJ), Dick Spotswood called it the largest financial scandal in the history of Marin County. 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. Charlene Albanese can be found on facebook https://www.facebook.com/search/top/?q=Charlene+Albanese&epa=SEARCH_BOX. Charlene Albanese is 75. 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. Company. How the investigation will impact the millions of dollars in investments made by nearly 1,000 investors is unclear. Yes, Marin County actually does have some public housing, but residents have filed suit because the county wont do anything about the rats, exposed electrical wires, and general disrepair. 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. He will plead guilty to the criminal charges that have been filed by the Department of Justice. [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. Property records show Wallach owning an Encino (Los Angeles County) home with his wife purchased more than a decade ago for $3.5 million. [12] A Marin County Supervisor said he was the largest owner of commercial properties in the county. The action you just performed triggered the security solution. 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. [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. The current status of license is Licensed (Active) and it is valid till 06 December, 2022. Long vs. Lang). 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. [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. 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Casey became a certified public accountant in 1977 but lost his certification after being convicted of the charges. The complaint alleges the companies knowingly misled investors and violated the California Securities Act by failing to register the investments as securities. Others associated with the Companies also appear to have been involved and benefitted from the scheme, and this investigation is ongoing.. Many investors entrusted Ken with their finances, including his employees and friends, as well as myself. Real estate agents, real estate brokers and realty companies are required to be licensed for conducting real estate transactions in the United States. 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. Charlene Albanese in Novato, CA - (415) 898-0875, 4158980875 | 411 I was very confident in this company, Cales wrote in a text. 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. The two companies deferred comment to the law firm. 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. He was able to pull $200,000 out of his account with no problem at some point, so he's just waiting to find out how much of his remaining investment he'll ever see again. This alleged Ponzi scheme came crashing down just four months ago after the death of PFIs founder in May 2020. 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. Charlene Albanese in Novato, CA Charlene Albanese may also have lived outside of Novato, such as Larkspur and San Rafael. The virus didnt spare them, Exclusive: Navy report details final days of Roosevelt sailor who died from COVID complications. Get the latest posts delivered right to your inbox. 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. Contact. He also donated to Travis Allens and John Coxs unsuccessful runs for governor. [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. Heres what I did wrong. Its pretty scary for a lot of people, he said. 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. [5] He died on May 6, 2020 at the age of 73 of a heart attack. 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. In a statement to The Chronicle, Albanese said she hired lawyer Eric Sternberger two days after Caseys death to review the corporate finances. The U.S. Securities and Exchange Commission is investigating two Marin County property management and investment companies following the death of their proprietor. California man accused of treating thousands of people without a medical license for years, DA says. 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. 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. [8] The investigation revealed that 20% of PFI properties had no equity. [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". Here are their demands, Downtown S.F.