BOCA RATON, Fla. (CBS12) — A Boca Raton couple has pleaded guilty for their roles in a $50 million real estate investment fraud scheme, federal prosecutors say.
Jean Joseph, 55, and his wife, Janalie Camille Bingham, 44, ran and operated Wells Real Estate Investment LLC together since 2017, which they described as a real estate acquisition and development company based in West Palm Beach, according to the federal indictment filed in October.
While Bingham was the CEO, Joseph’s involvement in the company was hidden from investors as he was convicted of a separate federal wire fraud case in South Florida in early 2020, the indictment said. He did not hold an official position and was not identified on any of the company’s investor documents but still controlled the company with Bingham, even while serving his prior federal prison sentence and while on supervised release…