Call Now For a Free Consultation:
(614) 502-6165

Arizona Man Indicted for Alleged Real Estate Investment Fraud

Gilbert, Arizona Resident Gerald Lee Kelly Indicted for Real Estate Investment Fraud Scheme

Gerald Lee Kelly, of Gilbert, Arizona has been indicted on 25 counts related to an alleged real estate investment fraud scheme, including counts of wire fraud, mail fraud, and money laundering. According to court documents, at least eight investors were affected by the alleged investment scam, and they lost a total of approximately $855,000 in the deal. The arraignment is scheduled to take place later this month on January 25th.

According to the allegations, Kelly, through his company Cornerstone Financial Holdings, lured in investors with high returns of 18% to 25% on distressed homeowner loans. He allegedly claimed that investors could make these high returns in a short period of time, and he also claimed that the investments were allegedly secured. Prosecutors say that Kelly was aware that the company had hit hard financial times, and that he knew that the so-called security provided to investors was seriously lacking.

Investors should consider investment fraud cases like these carefully and take them as warnings. No matter what kind of investment you are offered, do your research. Any investment opportunity that claims to offer “no risk” and abnormally high returns should be approached with extreme caution.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation

Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
6140 Parkland Blvd.,
Suite 330
Mayfield Heights, OH 44124
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
Follow Us
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram