Earlier this year, Keith Wilson was arrested in Stockton, CA after 22 months on the run.
He was once a well-regarded member of the Richmond District community, known for his generous donations, involvement in community issues, and wealthy lifestyle.
But two years ago, things began to unravel as business associates of Wilson’s started to piece things together.
What would come to light is that the very people Wilson was rallying for – the members of his community – were the same people he ended up defrauding, fleecing them of nearly $400,000 in a real estate scam. That included one elderly woman who invested $115,000 with Wilson, a substantial portion of her life savings.
In Bernie Madoff style, Wilson took money from investors but never invested it, instead using it to fund his lavish lifestyle. Investors grew suspicious when they never saw a return on their investments and after some digging, learned that one of the properties – a home in Milpitas – had never been purchased by Wilson or either of his companies, Tribecca Properties LLC and Lone Cedar Corp.
“He fooled us all,” said one member of the Greater Geary Boulevard Merchant Association to the Examiner, who wished to remain anonymous. “He lived really well with those people’s money.”
Attorney Jordanna Thigpen, who filed a suit on behalf of three of Wilson’s victims, is largely credited with bringing the full extent of his crimes to light.
According to the Examiner, Wilson struck a plea bargain with prosecutors last Friday that includes a five-year state prison term.
Often, financial fraud cases can drag through the courts for years, so Thigpen was pleased with the swift pace at which Wilson’s case was handled.
“Often it is difficult to have these people sentenced,” Thigpen told the Examiner. “Look at Wall Street; they’ve done way more damage than someone who’s done a drug crime.”
Wilson, 56, is expected to be sentenced Thursday. It is unknown whether any funds were recovered for the victims of Wilson’s fraud.
Sarah B.
I was almost scammed by Keith. He’d have gotten my money except I had an unexpected cash flow and couldn’t complete the deal. The guy was a pro. Extremely convincing, charming, and disarming. I’d always thought I could spot a liar, but this guy was so slick he could charm the birds out of the trees. Lesson learned: If someone offers you a deal that seems too good to be true, it probably is.”
Oops, I meant to say: “…unexpected cash flow problem…”
Examiner quoted an unnamed member of th Geary Blvd Merchants Assn who said this scammer guy had been a very active member of that group so i looked em up. http://www.gearyblvd.org/community.html
website doesn’t say when meetings are, who are the members of the Board of Directors, the annual or monthly dues. Asked a couple of people on Geary. They kind of laughed and said theres only been one presedent– same guy for 20 years or something. Is this true? Never heard of a merchants assn that functions like this — esp. in a major city. seems kinda strange. and what do they do? empty buildings all down Geary and Clemment.