A New Jersey man was sentenced to prison for his role in a scam that bilked three victims out of hundreds of thousands of dollars,  including one who lost nearly $500,000 in a real estate schemes.

Christopher Akeme, a 39-year-old resident of Sicklerville, was sentenced to six years in prison for laundering money in a scheme that defrauded three victims of nearly $1.5 million, the New Jersey Attorney General Matthew J. Platkin said in a press release.

One victim lost $491,645 when she sent money for a supposed condominium investment scam that also had a romance component, according to the release.

Another victim was deceived by a romance scam, losing $926,000 in retirement savings and investment accounts. She believed she was financially aiding a non-existent overseas development project and medical expenses for a fictitious romantic partner.  A third victim lost $116,600 in an attempt to release purported unclaimed funds in a Spanish bank account.

The sentencing, announced by, took place on Sept. 15, in the Camden court, presided over by New Jersey Superior Court Judge Gwendolyn Blue. 

Akeme was also ordered to pay restitution totaling $1.4 million to the victims. Akeme previously pleaded guilty on May 26 to one count of financial facilitation of criminal activity. 

In his plea, Akeme acknowledged his participation in a scheme that targeted vulnerable individuals, defrauding them of substantial sums and laundering the ill-gotten gains.  He would receive the funds in his U.S. bank accounts before forwarding them to various accounts in Nigeria.

“This defendant shamelessly exploited vulnerable victims in the United States and abroad using a variety of scams,” Platkin said in the release. “This prosecution serves as notice that New Jersey will not be a haven for fraud. We will bring fraudsters to justice, even if the victims are across the nation or the world.”

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The five-day office work week may have gone the way of the Boston Braves.

Indeed, Beantown’s largest employers are having a hard time getting employees back to the office five days a week, as flexible work schedules and hybrid work arrangements have become the norm, the Boston Globe reported.

“I think most companies have resigned themselves to the fact that flexible work schedules are here to stay,” Jim Rooney, president of the Greater Boston Chamber of Commerce, told the outlet. “Could I see a day when it’s viewed as better for the business, better for the employee, and better for society if people are getting up and going to work? Yeah, I can see that coming back — but it’s not going to happen in the short term.”

The trend toward hybrid work arrangements is gaining momentum nationwide. Data from the U.S. Survey of Working Arrangements and Attitudes reveals that in August, 50.5 percent of full-time workers with jobs suitable for remote work split their time between onsite and remote work, up from 46.8 percent a year earlier, the outlet said.

Even tech giants like Google, Meta, and Amazon, which have large Boston or Cambridge offices, are implementing three-day office workweeks, despite initially imposing stricter return-to-office policies.

Many employers and employees are seeking middle-ground solutions to strike a balance between remote and onsite work, the Globe reported.

Several factors are contributing to the persistence of hybrid-work arrangements. The ongoing talent shortage, particularly in Massachusetts’ tight labor market, has compelled employers to offer flexibility to attract and retain workers, especially women and individuals from marginalized groups. Cost-saving measures also play a role, with some companies downsizing or subleasing their offices, while others aim to avoid having employees endure long commutes for days when their presence in the office isn’t mandatory.

Some firms, like Point32Health and ezCater, emphasize the importance of maximizing in-person collaboration and interaction when employees do come into the office, rather than adhering to a rigid schedule, the outlet said.

While tech companies are well-suited for hybrid work arrangements, traditional industries like financial services and law may require more in-person presence, with some firms implementing four-day office workweeks.

Nevertheless, companies are experimenting with different models and arrangements, allowing employees more freedom to choose. Mintz, a law firm, asks employees to come to the office about 60 percent of the time on average, with most employees adopting a Tuesday-Wednesday-Thursday schedule.

Athenahealth, a health care software company, has about 35 percent occupancy at its headquarters, according to chief people officer Brittany Podolak.  

“It all comes down to, we want to have an engaged workforce,” she told the outlet. “This is where I just don’t know that mandates do that for you.”

The report comes at a time when office values in Boston are cratering.

Real estate firm Synergy Investments recently purchased One Liberty Square, a 13-story office building in the Financial District of downtown Boston, for $45 million, which is a 17 percent decrease from the building’s value a decade ago, the Boston Globe reported. 

It’s the second office building sale in as many months in the city; Rhode Island-based Washington Trust provided the financing.

The acquisition, which is the second office building sale in as many months in the city, comes as Boston’s office market faces challenges due to the COVID-19 pandemic, with office space availability at an all-time high in Greater Boston. 

— Ted Glanzer

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A developer has purchased 137 acres of land in Connecticut to build housing and commercial buildings.

A partnership led by real estate developer James Cormier bought the properties at 55 Winkler Road, 120 North Road, 173 North Road and two unnumbered North Road addresses, in East Windsor for $1.15 million, the Hartford Business Journal reported. 

Cormier wants to build “reasonably affordable” housing with a mix of apartments, townhomes and single-family homes along with commercial buildings at the site, half of which is wetlands, the outlet reported.

Cormier said he met with town officials to discuss his partnership’s (another entity owns a 20 percent stake in the venture) plans.

Developers have been snapping up large parcels east of the Connecticut River over the past year. 

In January, A Massachusetts developer, proposing to build two warehouses and two manufacturing centers, purchased from Pratt & Whitney 300 acres of land in East Hartford for $78.5 million, the Hartford Business Journal reported.

The plans call for warehouses of up to a combined 2.5 million square feet, and two research and development buildings.

National Development is expected to build out its Rentschler Field plan throughout this year, East Hartford Mayor Michael Walsh told the outlet. The company also agreed to pay a one-time $4 million payment directly to the town, the HBJ reported.

— Ted Glanzer

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A 44-year-old New York-based attorney has pleaded guilty to charges stemming from a $19 million real estate Ponzi scheme, among other misdeeds.

Robert Wisnicki, who also pleaded guilty to conspiracy to commit money laundering, used his law firms — Wisnicki & Associates LLP and Wisnicki Neuhauser LLP — to lure investors into purchasing real estate and to conceal the proceeds of health care fraud, according to a press release from the U.S. Attorney’s Office.

The charges carry a maximum sentence of five years in prison each. As part of his plea agreement, Wisnicki agreed to pay restitution of $18.8 million.

In the Ponzi scheme, Wisnicki’s law firms specialized in real estate transactions. He began his real estate investment business in 2007, wherein existing clients, referred to as “Investor Clients,” entrusted their funds to him. 

Wisnicki identified real estate investment opportunities for the clients and represented them in the resulting transactions.

However, as the clients began losing money, instead of informing them, Wisnicki used funds from other clients held in trust accounts to conceal the losses. He falsely assured his clients that their funds were still secure, even though he had transferred those funds to the other clients. 

Additionally, Wisnicki used funds from new clients to repay previous ones, misleading them about the purpose of their investments. The fraudulent activity continued until at least 2022, resulting in approximately $18.8 million owed to clients

In a separate scheme, Wisnicki became involved in a conspiracy to launder the proceeds of health care fraud, exploiting New York and New Jersey no-fault insurance laws.That involved medical service providers receiving direct payments from insurance companies for treating automobile accident victims. Wisnicki and his conspirators fraudulently controlled medical professional corporations and billed insurance companies for unnecessary and excessive medical treatments, further lying under oath to insurance representatives.

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The company that has been sued by various states for alleged deceptive business practices surrounding 40-listing agreements, has filed for Chapter 11 bankruptcy protection in 33 states.

Florida-based MV Realty came under scrutiny for allegedly paying homeowners a few hundred dollars in exchange for the right to be the listing agent in the event a homeowner decided to sell their home, CBS News reported.

Under the 40-year contracts, MV Realty would receive money if the company sold the property, the homeowner canceled the agreement or if the property was transferred in some other way, including foreclosure or a transfer when the owner dies.

The contracts also allegedly permitted MV Realty to obtain mortgages on the homes, unbeknownst to the homeowners.

North Carolina, Florida, Pennsylvania, and Massachusetts, among others, have sued MV Realty for alleged deceptive, unfair trade practices.

“I was shocked,” Philadelphia homeowner Timothy Calhoun, who entered into a contract with MV Realty, said at a hearing concerning MV Realty’s practices earlier this year. “They never told me that I was signing a mortgage. If I had known that I was gonna put a mortgage on my house, I would have never had signed the agreement.”

The lawsuits in every state seek to stop MV Realty from entering into new contracts, void the existing contracts and have courts assign civil penalties to the company.  

MV Realty, which operates in 33 states nationwide, previously denied it engaged in any false or deceptive practices.

“We are confident that after a full airing of the facts, the conclusion will be that MV Realty’s business transactions are legal and ethical and that our team has operated in full compliance with [Massachusetts] law,” the firm said in a statement to CBS Boston.

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The deal with Unifor was a relief for the Detroit automaker, whose U.S. union has begun a limited strike over better pay and benefits.

You heard about the arrest of now-former Miami commissioner Alex Diaz de la Portilla on charges of bribery and money laundering. 

But did you know that he has been staving off foreclosure of his childhood home for more than a decade? Diaz de la Portilla allegedly owes mortgage payments, interest and other fees totaling about $630,000 to Wells Fargo. 

The foreclosure proceedings began in 2011, when Diaz de la Portilla and his then-wife Claudia Davant, got divorced. Wells Fargo, as trustee for Merrill Lynch, bought the mortgage and filed the first foreclosure complaint against Diaz de la Portilla and Davant. Three years later, the lawsuit was dismissed, only for Wells Fargo to file a second foreclosure suit against the former couple in 2017.

Two years went by, when, in 2019, a Miami-Dade judge issued a final judgment in favor of Wells Fargo for $628,545. Since then, four sales of the property were scheduled and then canceled. 

But time may finally be running out for Diaz de la Portilla — at a time when he is under more scrutiny than ever before. The property is scheduled to be sold in a courthouse auction in November, my colleague Francisco Alvarado reports.  

The former commissioner, who served in the Florida Legislature from 1994 to 2010, is part of a political dynasty in Miami that includes his brothers Renier and Miguel. 

Diaz de la Portilla was suspended from office by Gov. Ron DeSantis after he and his friend, attorney William Riley Jr., were arrested and booked into Turner Guilford Knight Correctional Center earlier this month on public corruption charges. The indictment alleges that Diaz de la Portilla accepted illegal payments and campaign contributions from Riley, a land use attorney who represented David and Leila Centner, the controversial anti-vax couple who founded Miami-based private school Centner Academy. (More about Riley and the alleged scandal here.) 

After the arrests of Diaz de la Portilla and Riley, the city removed Diaz de la Portilla’s name from his office, parking spot and other signage while he maintains that he is being targeted and denies the allegations. 

Riley was removed from the brokerage Rosa Commercial Real Estate, a small firm in Coral Gables led by broker and former Hialeah councilman Oscar de la Rosa. Coral Gables Mayor Vince Lago and his chief of staff Chelsea Granell held their licenses with the same brokerage, until last week. Now the firm is down to de la Rosa and his stepfather, Hialeah Mayor Esteban “Steve” Bovo. 

What we’re thinking about: What deals did Rosa Commercial Real Estate work on, and why were nearly all of its agents also politicians? Send me a note at kk@therealdeal.com. 

CLOSING TIME 

Residential: Steven Hudson, CEO of a financial services firm, paid $14.4 million for the townhouse at 220 Brazilian Avenue in Palm Beach. Hedge funder David Malm sold the property just nine months after acquiring it for $12 million. The 4,000-square-foot unit has four bedrooms and five bathrooms.

Commercial: Trammell Crow Residential and Carlyle sold the Park 82nd Apartments at 8255 Park Boulevard to Stockbridge for $156 million. The 368-unit development, in Miami-Dade County’s Fontainebleau neighborhood, traded for $424,000 per unit. 

— Research by Adam Farence 

217 East Rivo Alto Drive

NEW TO THE MARKET 

Spec home developer Ramin Aleyasin listed the under-construction spec home at 217 East Rivo Alto Drive in Miami Beach for $38.5 million with Compass agent Matthew Crane. The property is expected to be completed in less than a year, according to the listing. The seven-bedroom, seven-and-a-half-bathroom estate will include a pool, boat lift, dock for two yachts and a rooftop terrace. 

A thing we’ve learned 

To improve land sales in Miami Beach, Carl Fisher implemented a new strategy in 1919 that many developers would eventually copy. He raised his prices by 10 percent to fuel the concept that his land was rapidly appreciating in value, according to the book “Bubble in the Sun.” 

Elsewhere in Florida 

Attorney Bronwyn Stanford claims that she lost her position in charge of Miami-Dade’s pet shelter after she stood up to benefactor Yolanda Berkowitz, in a dispute over how the county’s Doral shelter was run, according to the Miami Herald. Berkowitz, who is married to developer Jeff Berkowitz, sued Stanford for slander this summer, claiming that Stanford falsely told staff that Berkowitz was an escort before she married the real estate developer. 

Politico reports that Gov. Ron DeSantis is losing his influence in Florida, citing interviews with close to two dozen lobbyists, political consultants and lawmakers. 

Brightline began operating a new route to Orlando, the same day a Brightline train hit and killed a pedestrian. The high-speed rail company now offers trips from Miami to Orlando, which take about three and a half hours, Axios reports. 

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The deal with Unifor was a relief for the Detroit automaker, whose U.S. union has begun a limited strike over better pay and benefits.

The former press secretary in the Bush White House will moderate the next Republican debate. She’s managed to rise at Fox without being a Trump supplicant.

Facebook’s parent is developing bots with personalities, including a “sassmaster general” robot that answers questions.