Hat tip to daytrip for sending this in from the Downey Patriot:
DOWNEY – Two real estate agents, including one who lives in Downey, were arrested last week, accused of stealing $1.8 million from the real estate office that employed them. Elek Andrade, 27, of Downey, and John Wesley Martynec, 38, of Long Beach, each face 102 felony counts of grand theft and identity theft. Andrade is a licensed real estate agent while Martynec is a broker.
Between 2003-08, they worked for two real estate companies in Norwalk: JTR Real Estate and Results Mortgage. JTR often purchased residential homes which were occupied by renters. In order to avoid a lengthy eviction process, JTR offered cash payouts to residents to move out voluntarily. Authorities allege that Andrade and Martynec submitted phony “move out” notices to JTR and kept the cash payments for themselves. Andrade and Martynec are also accused of submitting fake contractor invoices to JTR. The money was allegedly embezzled through a company owned by Martynec.
Investigators say Martnec used the money to remodel his Long Beach home — adding a second floor, pool and outdoor BBQ area — and to take lavish vacations, including stays at a Maui resort that cost $3,000 per night. “Large sums” of money were also used to commit mortgage fraud, authorities claim. Andrade and Martynec were arrested at their respective homes and each are being held on more than $1.7 million bail.
Looks like the same guy has been busy over the last few years…goes towards Jim’s frequent point that it would be nice to see some real regulation of agents/brokers.
http://losalamitos.patch.com/articles/seal-beach-realtor-heads-to-court-on-dozens-of-fraud-counts
As my old buddy Clint would say, Hang’em High.
I wonder how they got they tenants out if they were pocketing the cash?
Good ole Downey. I had a friend who lived there during the 80’s. I used to love eating at the historic McDonalds on Lakewood blvd when I was a teen. That place been there since the 50’s.
Some celebrity trivia:
Karen Carpenter lived in a fairly modest home in upper Northwest part at 9828 Newville ave. She died there in 1983. Richard Carpenter sold the home for 700K after his mother died in 1996.
From what I understand, there are a lot of pot grower homes in that area.
Correction: Upper “Northeast” part
Always have multiple signatures required on company checks. Don’t give anyone the burden, or temptation, of being able to sign checks alone.
Oldest surviving McDonalds is the Downey location. Went there as a child with the cousins and granny doing the driving.
Ripping off JtR? What? Firing squad at dawn!
Oh, oh… JTR, that’s different…
They ripped off JtR? Huh? What??? My heart was pounding when I read the headline, Jim! *Chuckle* But that was your point all along, right?
Guess crime does NOT pay. Oh scratch that, unless you’re “the Tan Man” of Countrywide, then it DOES pay. And sadly, it pays very, very well…