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Talbot County Attorney Indicted In Real Estate Fraud Scheme
Aaron G. Seltzer, a 36-year-old attorney from Trappe, Maryland, has been indicted on nine counts of wire fraud in connection with a real estate investment scam that bilked victims out of $747,860.
According to the indictment, Seltzer, a licensed Maryland attorney, offered victims fraudulent investment opportunities in real estate transactions between January 2008 and 2010. He would then divert the money intended for the investments to his own benefit.
The indictment alleges that Seltzer obtained a total of $747,860 through eight fraudulent transactions. The indictment also seeks forfeiture of that amount as the proceeds of the scheme.
One example of the scam cited in the indictment involved an investor who sent Seltzer $92,000 to purchase 45% of an Anne Arundel County real estate company. However, Seltzer did not own the company, and the money was used for his own benefit.
In another instance, Seltzer contacted a lawyer in New York and proposed a business loan secured by a mortgage on three commercial properties in Virginia. Seltzer presented the lawyer with a fraudulent promissory note and fabricated closing documents, convincing the lawyer to wire him $497,527.
Seltzer faces a maximum sentence of 20 years in prison on each of the nine counts of wire fraud. He is scheduled to make his initial appearance in U.S. District Court in Baltimore today at 3:45 p.m.
An indictment is not a finding of guilt, and Seltzer is presumed innocent unless proven guilty at a later criminal proceeding.
U.S. Attorney Rod J. Rosenstein praised the work of HSI Baltimore and the FBI in the investigation and recognized the Maryland Attorney Grievance Commission for its assistance.
This case is part of the President’s Financial Fraud Enforcement Task Force’s efforts to combat financial crimes.
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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