David Saks: April 2012

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

FORMER AGENT WITH REVOKED REAL ESTATE LICENSE CHARGED IN BOGUS REAL ESTATE SCHEME

New Jersey Man Charged in Bogus Real Estate Scheme

U.S. Attorney’s Office April 23, 2012
  • Eastern District of Pennsylvania (215) 861-8200
 
 

An indictment was unsealed Friday charging William Kevin Kelly, 58, of Ocean City, New Jersey, with wire fraud and money laundering, announced United States Attorney Zane David Memeger. The indictment arises from Kelly’s victimizing clients and investors through promised real estate deals in the Lancaster area.

Through businesses such as Homelynx, Bantry Property Solutions, Multi County Properties, and For Sale by Seller Plus, which he owned and operated, Kelly—who had his real estate license revoked—promised clients and investors quick returns or results on their funds.

After the victims turned over their funds, Kelly would take their money, spend it for personal purposes, string them along with various excuses, and provide them with checks that bounced.

As a result of his scheme, Kelly has victimized at least 21 clients of over $718,700.

If convicted, the defendant faces a maximum sentence of 460 years’ imprisonment, a three-year term of supervised release, a $7 million fine, and a $2,300 special assessment.

The case was investigated by the Federal Bureau of Investigation, the Elizabethtown Borough Police Department, and is being prosecuted by Assistant United States Attorney Alexander T.H. Nguyen.

An indictment or information is an accusation.

A defendant is presumed innocent unless and until proven guilty.

Anyone with information about the defendant is encouraged to contact the Federal Bureau of Investigation’s Harrisburg Resident Agency at (717) 232-8686.

source: FBI



David Saks



Time&Temp Memphis

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