Kenneth J. Casey

Kenneth J. Casey (died May 6, 2020) charged in 2020 with "operating a massive Ponzi scheme" that defrauded "more than a thousand investors" while "embezzling tens of millions of dollars to personally enrich himself". Companies owned by him were investigated by the U.S. Securities and Exchange Commission (SEC), after attorneys said they had "engaged in serious misconduct over the nearly three decades prior to his death". He married Charlene Albanese and "is survived by his son, Michael Albanese". A 2011 interview of Albanese for a magazine feature about their home stated that “Charlene and her husband, Ken Casey” purchased a second home in 2003.

Business Casey became a certified public accountant (CPA) in 1977. He operated Kenneth J. Casey, An Accountancy Corp., until his CPA certificate was revoked in 1998 after he was convicted in 1997 of felony violations for fraud and tax evasion. He served 18 months in prison A Marin County Supervisor said he was the largest owner of commercial properties in the county. —hired the law firm Ragghianti Freitas to help with the ownership transition. An audit raised "legitimate questions involving the structure and investment history of Mr. Casey's companies", according to partner of the law firm, and the SEC was asked to investigate. Albanese became active director during the transition, CFO Manuel Romero resigned from the board, "as did real estate investor Lewis Wallach as president".

As of October 2020, the SEC investigation continues, and the possibility of other individuals being charged remains.

Criminal and civil charges Wallach and Casey were charged as a co-conspirators on September 30, 2020, in a "massive Ponzi scheme", with the SEC and the U.S. Attorney's Office alleging they "intentionally defrauded 1,300 individuals". Wallach was "charged with embezzling $26 million ... and using the money to buy personal items such as a Malibu vacation home and luxury cars," according to Houston.

Wallach's attorney, Ed Swanson, responded that Wallach was cooperating with the investigation, and would plead guilty to the criminal charges, having already pled guilty to civil charges. a hearing is scheduled for December 28, 2020, and it remains to be determined as of October 2020 whether any ill-gotten gains will be repaid.

Casey was a donor to charitable and theatre causes, and political candidates. PISF Inc. donated $300,000 towards a California state gas tax repeal in 2017—funds which were then used by Travis Allen in his campaign for governor, according to the Marin IJ. Casey, Albanese, and Wallach also donated the maximum allowed by law to Allen's campaign. Casey, Albanese, Wallach and other PFI or PISF employees had earlier donated to similar political candidates. Responding to charges that the company may be reimbursing employees for maximum contributions, Casey stated, "Nobody is getting reimbursed for anything."