ORLANDO, Fla .– Federal prosecutors investigating the crimes of former Seminole County collector Joel Greenberg have indicted two of Greenberg’s associates and charged them with a multi-million dollar real estate fraud scheme, according to a indictment unsealed Monday.
Authorities claim Keith Ingersoll and James Adamczyk, working with other unnamed co-conspirators, bribed an Orlando area investor of over $ 12 million by persuading the investor to put money for more of half a dozen fraudulent real estate transactions in Florida, other states and the Bahamas.
Ingersoll and Adamcyzk told the investor that they needed the money to cover the deposits on the contracts they signed to buy various properties that they planned to transfer immediately to other buyers – including in least some were fabricated, according to the indictment.
They told the investor that the money would be held in receivership. But they and the other co-conspirators instead spent the money “for themselves and for their own personal benefit, including luxury cars, travel and adult entertainment,” according to the indictment. .
The indictment charges the two men with 40 federal crimes, including wire fraud, conspiracy and money laundering. If found guilty, they could face decades in prison; the 20 counts of wire fraud with which they have been charged carry up to 20 years in prison each.
Ingersoll is also charged with Count 41st: Aggravated Identity Theft, for allegedly using the personal information of a victim identified only as “WV” in August 2017 in the commission of wire fraud offenses.
Adamczyk and Ingersoll appeared in court separately on Monday afternoon and pleaded not guilty. A judge has set their next hearings for December 21 and an initial trial date for January 3.
Both were released from detention with a list of conditions, including that they do not travel outside of the Middle District of Florida, which stretches from Jacksonville to the Fort Myers area. Ingersoll applied for permission to travel to other parts of the state on business, but was refused.
Magistrate judge Leslie Hoffman cited the “serious and numerous offenses” against Ingersoll in refusing to lift his travel restrictions. âLetting you travel anywhere in the state may be a bit too far,â Hoffman said.
Carlos Perez-Irizarry, a defense attorney representing Adamczyk in court, declined to comment after the hearing. Andrew C. Searle, representing Ingersoll, said his client was “fully cooperative” after learning he had been charged, including surrendering.
Ingersoll, Searle said, is “ready to mount a vigorous defense.”
Ingersoll and Adamczyk were also involved in a controversial property rollover deal with Greenberg and the Seminole County Tax Collector’s Office that an auditor later reported as “possible fraudulent activity.”
As part of the deal, Greenberg asked the tax collector’s office to buy a former bank building on State Road 434 for $ 810,000 in public cash – hours after a company recently formed by Adamczyk the bought for $ 680,000.
Records show Ingersoll – to whom Greenberg contracted for $ 48,000 to serve as a real estate advisor – was also involved in the transaction on behalf of the tax office. Several of Greenberg’s other top advisers also helped negotiate the deal.
An auditor who subsequently reviewed the agreement wrote that “the acquisition of this property has written collusion everywhere.” The auditors also separately said they found “no evidence of work” from Ingersoll for his consultancy contract.
ABC News reported in June that Greenberg investigators had “contacted” Ingersoll as they focused on the contracts Greenberg handed out during his elected term.
KI Consulting Group – the entity through which Greenberg hired Ingersoll – and Shooters Orlando Inc. – which Adamczyk used to purchase the bank building which he immediately resold to the tax office – were named in the deed charge unsealed Monday.
Prosecutors say Ingersoll and Adamczyk offered the investor, who has not been named in court records, 9% interest in return. They claimed the properties were already under contract but in some cases the owners had not even been contacted about the sale, according to the indictment.
To cover up the fraud, the couple provided the investor with fake real estate contracts and other documents, some of them with forged signatures or signed with fake names, prosecutors said. They also falsely claimed that buyers were lining up for the properties.
“[T]Potential buyers did not exist, had never been contacted for the purchase of the property or had refused to proceed with a transaction, âstates the indictment.
Meanwhile, the lawyer who the investor said held the money in escrow was not licensed to practice law – his license was suspended in 2008 and was never reinstated, according to the act of ‘charge. The lawyer was not named in the document.
According to federal prosecutors, the suspended lawyer repeatedly directed large sums of money fraudulently obtained – nearly $ 1.2 million in a single transaction in January 2018 – to accounts held by Shooters Orlando or KI Consulting Group.
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