New Jersey Man Sentenced For Bogus Read Estate Scheme

New Jersey Man Sentenced For Bogus Read Estate Scheme

The following press release was published by the U.S. Department of Justice, Office of the United States Attorneys on May 9, 2013. It is reproduced in full below.

PHILADELPHIA - William Kevin Kelly, 59, of Ocean City, NJ, was sentenced today to 60 months in prison for a real estate scam that victimized clients and investors in the Lancaster area. Kelly pleaded guilty on Jan. 22, 2013 to wire fraud and money laundering charges. Through businesses such as Homelynx, Bantry Property Solutions, Multi County Properties, and For Sale by Seller Plus, which he owned and operated, Kelly - who had his real estate license revoked - promised clients and investors quick returns or results on their funds. After the victims turned over their funds, Kelly would take their money, spend it for personal purposes, and string them along with various excuses, and provide them with checks that bounced. As a result of his scheme, Kelly has victimized at least 40 clients of over $718,700.

In addition to the prison term, U.S. District Court Judge John R. Padova ordered Kelly to pay restitution in the amount of $718,700 and ordered three years of supervised release.

The case was investigated by the Federal Bureau of Investigation and the Elizabethtown Borough Police Department It was prosecuted by Assistant United States Attorney Anita Eve.

UNITED STATES ATTORNEY'S OFFICE, EASTERN DISTRICTof PENNSYLVANIA

Suite 1250, 615 Chestnut Street, Philadelphia, PA 19106

PATTY HARTMAN, Media Contact, 215-861-8525

Source: U.S. Department of Justice, Office of the United States Attorneys

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