Local Realtor Pleads Guilty To Multi-million Dollar Scheme

(Wilmington, DE) -- A real estate agent in Wilmington is pleading guilty to a multi-million dollar scheme. Prosecutors say Carl Chen solicited his clients at Re/Max Sunvest Realty and others for a total of six-point-six-million dollars. Chen told his clients he would invest the funds in real estate with 10- to 15-percent returns annually for investors. The scheme happened between 1991 and 2017. Chen faces a maximum sentence of 20 years in prison when he is sentenced later this year.

Source: 24/7 News


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