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A former San Francisco real estate broker and his aides were sentenced to federal prison and ordered to pay more than $3 million for fabricating documents in a $55 million scheme that inflated homebuyers’ apparent incomes and helped them qualify for loans. https://t.co/5Z5iQemDcc
The nightmare at #Nightingale continues. CEO #ElieScwartz faces arraignment on fraud charges. New details expected to come to light. #CrowdStreet last year alleged $54M swindle. #realestate #CRE #crowdfunding #DOJ #GA https://t.co/LArgQdvctv
Nightingale Properties CEO Elie Schwartz faces arraignment next week following DOJ probe https://t.co/gMjB4F1Bmp
Elie Schwartz, CEO of Nightingale Properties, is set to face federal charges related to a crowdfunding scam that allegedly involved embezzling $54 million from investors. The charges stem from an investigation by the Department of Justice's criminal fraud division. Schwartz's arraignment is scheduled for December 4, 2024. The case has garnered attention following allegations from CrowdStreet last year regarding the significant financial misconduct. The situation continues to unfold as more details are expected to emerge in the coming days.
