SEC Says Late Real Estate Investment Manager Stole $ 10.3 Million

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Law360 (June 2, 2021, 7:02 PM ET) – A California real estate investment manager allegedly misappropriated more than $ 10.3 million from clients before his death last year, the Securities and Exchange Commission said Wednesday US exchanges by striking a property manager with a civil action in federal court.

Kenneth J. Casey, founder of Professional Financial Investors Inc. in the San Francisco Bay Area, was part of a larger scheme that extorted hundreds of millions of dollars from 1,300 investors, the SEC said in a complaint.

“Many of the defrauded investors were elderly, retired and relied on their investment income to cover their day-to-day expenses,” the agency said in a statement.

Casey got …

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