California Real Estate Fraud Report

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24
Oct

Real Estate Agent Charged with Stealing from Clients to Pay for Maui Condo

The Contra Costa District Attorney’s Office has announced the arrest of a former Sacramento real estate agent for allegedly fleecing over $76,000 from a Martinez family in a real estate investment fraud case.

Lawrence Grzelak, 54,  is charged with one count of securities fraud and one count of grand theft by embezzlement, with one enhancement for an excessive loss.

Deputy District Attorney Ken McCormick of the Real Estate Fraud Unit alleged that Grzelak bought a condo in Maui (the island) and convinced his victims to purchase securities funds that were non-existent (securities fraud) in order to get their money so that he could catch up on his late payments.

Read the original article in the Silcon Valley Mercury News.

This entry was posted on Wednesday, October 24th, 2012 at 10:46 am and is filed under Real Estate Crimes, Real Estate Fraud. Responses are currently closed, but you can trackback from your own site.

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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