San Francisco real estate broker W.B. Coyle has become the subject of intense media scrutiny after what alleged victims assert has been a “decade of deception.” The State of California’s Department of Real Estate filed a complaint against Coyle and his business, charging that the broker engaged in numerous fraudulent practices against clients while managing… Continue Reading
Tag Archives: real estate fraud
$250 Million Ponzi Scheme Featured Castle Estate
Posted in Ponzi ProfilesJames Koenig of Redding, CA, was convicted yesterday of operating a $250 million Ponzi scheme that victimized upwards of 2,000 investors, many of them senior citizens. A jury in Shasta County Superior Court found Koenig guilty on all but one of over three dozen criminal counts he faced. Koenig’s partner in the fraud, Gary Armitage… Continue Reading
Real Estate Fraudster Found Himself ‘in a Pickle’
Posted in Ponzi ProfilesFolsom, CA, resident David Romo was sentenced on May 3rd to 10 years in prison for running a complex real estate scam. The 42-year-old Romo, originally indicted by a federal grand jury in 2011, had managed to bilk several investors out of $6.9 million through a series of fraudulent property development projects. While initially declaring… Continue Reading
Ponzi Schemer Made Not-So-Great Escape
Posted in Ponzi ProfilesMichael Joseph Krzyzaniak of Minneapolis, MN, is back behind bars after a brief escape from a federal prison camp. The 64-year-old Krzyzaniak, convicted last year of mail fraud, money laundering and tax evasion in relation to a $20 million real estate development Ponzi scheme, must have gotten antsy. With nine years left of his sentence… Continue Reading
Man With Own Financial Gravity Had Golden Touch
Posted in Ponzi ProfilesJohn Bravata advertises himself as “a man with his own gravity” who “spends his time acquiring commercial real estate, merging and turning businesses into gold.” Yet because of a federal indictment, Bravata has little time to enjoy his storied riches, instead making due with testimony about them in US District Court. This week Bravata, accused… Continue Reading
SCI Bankruptcy Trustee Files Adversary Clawback Lawsuit Against 114 Defendants: The Complaint And Its Exhibits Are Over 1800 Pages
Posted in Bankruptcy Clawback News, Legal RepresentationHackard Law attorneys regularly represent plaintiffs and defendants in adversary cases, including clawbacks, in federal bankruptcy courts. The process of representation is often initiated by a preliminary review of our prospective client’s case. A part of this review is the use of the PACER online system (Public Access to Court Electronic Records) made available by… Continue Reading
Ponzi Poster: Lee Loomis Wants You to ‘Get Rich for Sure’
Posted in Ponzi PostersThis week’s Ponzi poster features Roseville, CA “wealth guru” Lee Loomis, indicted for 50 counts of fraud in an alleged $20 million Ponzi scheme. Arrested by the FBI in September 2012, the 55-year-old Loomis is said by federal prosecutors to have defrauded nearly 200 investors through his business entities Loomis Wealth Solutions, Naras Funds and… Continue Reading