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A Quincy real estate broker has been accused of scamming aspiring homebuyers out of deposits on properties that weren’t actually for sale.

Michale P. Flavin, previously a broker at the unaffiliated Quincy real estate brokerage Flavin & Flavin, faces two counts of wire fraud and two counts of aggravated identity theft.

Federal prosecutors say Flavin, 38, executed purchase and sale agreements and received deposit checks from or on behalf of the potential buyers, even though the actual owners of the properties had not agreed to sell them, or to sell them to those buyers. Flavin allegedly forged the signatures of the sellers on the purported purchase and sale agreements.

The indictment claims Flavin allegedly cashed more than 60 deposit checks totaling approximately $1.8 million.

Flavin also faces separate charges from the Norfolk County district attorney’s office regarding $800,000 in missing deposit checks. Flavin has pleaded not guilty to those allegations.

The charge of wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater.  The charge of aggravated identity theft provides for a mandatory sentence of two years in prison to be served consecutive to any other sentence imposed, up to one year of supervised release and a fine of $250,000.

Quincy Broker Faces Federal Charges in Alleged Deposit Check Scam

by Banker & Tradesman time to read: 1 min
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