Baltimore Feds: Lawyer Pocketed $747K From Peddling Bogus Real Estate Investment 'Opportunities'

From the Office of the U.S. Attorney (Baltimore, Maryland):

• A federal grand jury has indicted Aaron G. Seltzer, age 36, of Trappe, Maryland, on nine counts of wire fraud in connection with a scheme in which he converted funds intended for real estate investments to his personal use.

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• According to the nine count indictment, Seltzer was a licensed Maryland attorney who handled real estate transactions and maintained an office in Crofton, Maryland. The indictment charges that from January 2008, through 2010, Seltzer offered victims fraudulent investment opportunities then diverted the money intended for the investments for his own benefit. The indictment alleges that Seltzer obtained a total of $747,860 through eight fraudulent transactions and seeks forfeiture of that amount as the proceeds of the scheme.

For the U.S. Attorney press release, see Talbot County Attorney Indicted In Real Estate Investment Fraud Scheme With Over $747,000 In Losses.