Seal Beach Realtor Denies Charges of Fraud and Theft

A Seal Beach-based realtor accused of dozens of counts of fraud, theft and elderly exploitation pleaded not guilty today to all charges.

John Wesley Martynec, 36, appeared in Orange County Superior court today to formally deny allegations that he stole $302,000 from four men by promising to flip houses for them at a profit. According to prosecutors, he kept the money instead of investing it and produced fake, property records, investment summaries and tax forms to trick his clients.

Martynec, a Long Beach resident, faces up to 30 years in prison if convicted on all 33 counts. He remains out of jail in $150,000 bail.

One victim realized some of the documentation Martynec was providing him were fake, according to prosecutors. Seal Beach police conducted an eight-month investigation into the case.

Martynec pleaded not guilty to eight felony counts each of grand theft and selling securities in issuer transaction without qualification, six felony counts each of untrue statements in connection with a purchase or sale of securities and the use of a scheme to defraud and five felony counts offinancial exploitation of an elder, according to court records.Martynec also faces multiple sentencing enhancements and allegations including loss more than  $100,000, property loss higher than $200,000 and aggravated white collar crime more than $100,000.

- City News Service Contributed to this report.