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"Real" Estate Broker Found Guilty of Fraud | News

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"Real" Estate Broker Found Guilty of Fraud
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ATLANTA-  Alpharetta real estate broker Robert Negrelli, 65, plead guilty in federal district court to making false statements during a 2005 bankruptcy case filed with the Bankruptcy Court for the Northern District of Georgia, earlier this month.

Negrelli, who once owned a real estate company in Alpharetta which "specialized in the sale of high-end homes and horse farms in the area" and was a licensed real estate broker deliberately falsified his income claiming to have earned, a mere, $81,000 during a two-year span. When confronted about his claims he admitted to making a significant amount more through his company, Negrelli Realty.

Negrelli, also, inaccurately represented his credit debts during his 2005 bankruptcy case and even threatened creditors not to testify against him. According to US Attorney Sally Quillian Yates, "Mr. Negrelli's false statements undermined the integrity of the bankruptcy proceedings and, if successful, would have cheated his creditors out of money that he owed".

Sentencing is scheduled for November 16 at 10 a.m. before US District Judge Thrash. Negrelli could face up to 5 years in prison and pay a fine of up to $250,000.

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