By Bob Walsh
Christopher Steele is a property developer in the
Sacramento area. Andrew Sackheim is a lawyer there. They just got
nailed by a jury for various fraudulent activity and it will cost them
big time.
It seems that the
two got together and sold a piece of property for clients, Donyne Ranch
LLC and East Lincoln Associates LLC, back in 2018 to Elliott Homes for
$6.6 million, which was WAY under the fair market value of the 140 acre
parcel. Like $10 million under. The two fraudsters got $3 million for
themselves. In 2012 they told the owners that they would not complete a
sale until work for developing the property had been complete, but then
backed out of that promise.
The
property, now called Turkey Creek Estates, is still about 2/3 vacant
with about 50 single family homes on it. The property is located next
to the Turkey Creek Golf Course, which Steele owns.
The
civil trial was presided over by Judge Michael W. Jones who will
determine the final damages, which could be as much as $10.7 million and
will be at least $7.3 million.
I have been unable to find any info about a criminal proceeding or action against Sackheim's license, if any.
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