Real estate agent facing fraud charges

SEAL BEACH - A real estate agent from Seal Beach is awaiting trial on charges that he stole nearly $300,000 through a phony investment scheme, authorities said this week.John Wesley Martynec was arrested by Seal Beach police officers on Aug. 11 after the Orange County District Attorney's office charged him with 34 felony counts, including grand theft and elder abuse. Martynec allegedly solicited money from investors he said would be used to purchase foreclosed homes, which would then be "flipped" and resold at a profit. Martynec allegedly sent investors phony property deeds to perpetuate the scam. Seal Beach Police estimated total losses at nearly $300,000. Martynec posted bond and is now awaiting trial, authorities said.

********** Published: September 01, 2011 - Volume 10 - Issue 20