Post sponsored by NewzEngine.com

BOSTON – A Quincy real estate broker was charged today for his role in a scheme to falsely market properties that were not for sale, or had already been sold, to steal real estate deposits. 

Michael P. Flavin, 38, was charged with two counts of wire fraud and two counts of aggravated identity theft.

The indictment alleges that between 2017 and April 2020, Flavin solicited deposits on real estate transactions by marketing numerous real estate properties that were not actually for sale. In each case, Flavin executed purchase and sale agreements and received deposit checks from or on behalf of the potential buyers, even though the actual owners of the properties had not agreed to sell them, or to sell them to those buyers. Flavin forged the signatures of the sellers on the purported purchase and sale agreements. All told, Flavin allegedly cashed more than 60 deposit checks totaling approximately $1.8 million. 

The charge of wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater.  The charge of aggravated identity theft provides for a mandatory sentence of two years in prison to be served consecutive to any other sentence imposed, up to one year of supervised release and a fine of $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors.

United States Attorney Andrew E. Lelling and Joseph R. Bonavolonta, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division made the announcement today. Assistant U.S. Attorney Sara Miron Bloom of Lelling’s Securities, Financial & Cyber Fraud Unit is prosecuting the case. 

The details contained in the indictment are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI