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Seal Beach Realtor Pleads Guilty to Fraud

John Wesley Martynec faces three years in prison for stealing $302,000 from investors in a house-flipping scheme.

A Seal Beach realtor pleaded guilty today to stealing $302,000 from investors with bogus promises to buy and re-sell foreclosed homes.

John Wesley Martynec, 36, took the money from four investors, including two 78-year-old men, between August 2009 and August 2010, according to the Orange County District Attorney's Office. Martynec told the investors he had 10 years of experience buying and flipping foreclosed homes for profit.

Martynec did not buy any property with the investors' money, according to prosecutors. One victim realized the documentation Martynec provided him was fake and went to Seal Beach police.

Martynec pleaded guilty to two felony counts of grand theft, one felony count of untrue statements in connection with a purchase or sale of securities and use of a fraudulent scheme, one felony count of financial exploitation of an elder, with a sentencing enhancement for property loss more than $200,000. Martynec, who is scheduled to be sentenced June 8, faces up to three years in prison.

-City News Service

Emily Knell March 17, 2012 at 06:05 PM
You see John, you can only say you're innocent so many times before you need to suck it up & admit to the world that Yes, you are a Total Douchebag! Here's the description of your new home: Beautiful concrete walls adorn your new home complete with concrete flooring, room for 1 cot or metal spring bunkbed option, home comes complete with 48 whole square feet of living space, metal toilet with seat missing, metal sink attaches firmly to wall with mirror that may not be crystal clear, probably like the ones found in pier bathrooms, Asking Price: 3yrs of your life.
Jan Bates March 25, 2012 at 07:32 PM
beautiful description of his upscale dwelling. I would love to see several "TENT CITIES" in every state. This disgusting non-person does not even deserve this upscale dwelling "at taxpayer expense" he will be residing in for ONLY 3 years. 3 years for each person wronged is more appropriate in "TENT CITY", not Ca. jail.
Will Jon Corzine, Jamie Dimon & Lloyd Blankfein ever be jailed too, or do you American asswipes only jail the the PETTY criminals? Don't answer that, it's just a rhetorical question. The answer is already CRYSTAL CLEAR.

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