Cops Pinch Florida R/E Broker For Allegedly Swindling Nearly $300K By Trying To Sell Condos Owned By Others That Were In Foreclosure Or Off Market

In Clearwater, Florida, the St. Petersburg Times reports:

• A former president of a condominium association was arrested on fraud charges Friday after police said she swindled nearly $300,000 by trying to sell condos that were in foreclosure or off the market.
• Barbara Lockett, 49, a licensed real estate broker, is charged with scheme to defraud. Police say Lockett told Dunedin businesswoman Kelly Choi that 22 condos at the Mission Hills Condominiums were good investments and open for sale. Lockett said she would help Choi, 48, complete paperwork and deal with the banks and told Choi where she could wire her money.
• "She suggested she would teach me how to be an investor," Choi said. "I trusted her completely." As months passed, Choi began questioning why the owners were slow to respond. Lockett made excuses, blaming the slow economy, Choi said. That's when Choi contacted the owners, who told her they knew nothing of the deals, she said.

***

• Lockett was arrested about 5 p.m. Friday and taken to the Pinellas County Jail, where her bail was assessed at $100,000. Police say there may be additional victims. Mission Hills, a sprawling complex south of Coachman Road and east of U.S. 19, has more than 400 condos for residents 55 years old or older.
• Lockett, who also went by the name Diane, was president of the Mission Hills association's board of directors, presiding over more than $2 million in association fees. Shortly after Choi's police report last year, the board asked her to resign.

For more, see Former president of Clearwater condo association accused of fraud.