California Real Estate Fraud Report

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Gary Armitage Ponzi Scheme Trial Delayed 3rd Time

Gary Armitage, who along with co-defendant James Koenig is accused of running a Ponzi scheme under his former investment firm AGA Financial in Santa Rosa, has had his trial for financial fraud and burglary delayed for a third time. The Shasta County Public Defender’s Office is defending Koenig. When Armitage’s attorney resigned in order to work for the Public Defender, conflict-of-interest rules required him to be assigned another attorney.

The new trial is set for August 9; both men have been jailed since May 2009.

The state Attorney General’s Offices accuses the two men of running a real estate fraud / Ponzi scheme that cheated over 2,000 people, many of them elderly (elder financial fraud) out of more than $200 million.

There are earlier posts about the alleged crimes of Gary Armitage and James Koenig in the California Real Estate Fraud Report.

Read the full article in the Press Democrat.

© Copyright 2007-2017 Monique Bryher

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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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