Amador County – Two central valley women are charged with swindling 34 victims out of $4.5 million through a house-flipping scheme promising huge financial rewards. This is the latest in a series of real estate schemes to hit the region. Leesa Marie Ward, 45, of Lodi and Alison Ann Jensen, 45, of Pleasanton appeared in a Stockton courtroom Monday for arraignment on a 46-count felony indictment charging them with grand theft, securities fraud and tax evasion. Ward was reportedly arrested Friday at her residence, while Jensen turned herself in at the County Jail around the same time. Their bail is set at $3 million each. The arrests were the culmination of a 3-year investigation by law enforcement into the Ward Real Estate Brokerage & Foreclosure Services Inc. in Tracy, where Ward, the firm’s namesake, served as chief executive. Authorities say that Ward and Jensen took investments on refurbished foreclosed homes and sold them for profit. They promised to pay back investors (many of who were elderly or infirmed) each month with interest. Payments ranged from $45 to $395,000. Many of their clients were elderly or infirmed. Investors alerted authorities to the alleged scheme after payments started drying up in 2006. In November of 2007, The California Department of Corrections issued a cease and desist order saying Ward was not authorized to conduct such a business and purposefully misled investors. San Joaquin County Deputy District Attorney James Lewis convened a grand jury in July that heard from 46 witnesses on the matter. The jury issued indictments and arrest warrants were issued. The company’s bookkeeper, Sharon Lee Graham of Oakdale, is expected to turn herself in to authorities this week. She faces 10 related charges. Prosecutors believe she took more than $840,000 from investors. This email address is being protected from spambots. You need JavaScript enabled to view it.
Tuesday, 17 August 2010 06:15
2 Central Valley Women Charged In House-Flipping Scheme
Written by Tom-
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Amador County – Two central valley women are charged with swindling 34 victims out of $4.5 million through a house-flipping scheme promising huge financial rewards. This is the latest in a series of real estate schemes to hit the region. Leesa Marie Ward, 45, of Lodi and Alison Ann Jensen, 45, of Pleasanton appeared in a Stockton courtroom Monday for arraignment on a 46-count felony indictment charging them with grand theft, securities fraud and tax evasion. Ward was reportedly arrested Friday at her residence, while Jensen turned herself in at the County Jail around the same time. Their bail is set at $3 million each. The arrests were the culmination of a 3-year investigation by law enforcement into the Ward Real Estate Brokerage & Foreclosure Services Inc. in Tracy, where Ward, the firm’s namesake, served as chief executive. Authorities say that Ward and Jensen took investments on refurbished foreclosed homes and sold them for profit. They promised to pay back investors (many of who were elderly or infirmed) each month with interest. Payments ranged from $45 to $395,000. Many of their clients were elderly or infirmed. Investors alerted authorities to the alleged scheme after payments started drying up in 2006. In November of 2007, The California Department of Corrections issued a cease and desist order saying Ward was not authorized to conduct such a business and purposefully misled investors. San Joaquin County Deputy District Attorney James Lewis convened a grand jury in July that heard from 46 witnesses on the matter. The jury issued indictments and arrest warrants were issued. The company’s bookkeeper, Sharon Lee Graham of Oakdale, is expected to turn herself in to authorities this week. She faces 10 related charges. Prosecutors believe she took more than $840,000 from investors. This email address is being protected from spambots. You need JavaScript enabled to view it.
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