A Quincy real estate broker admitted that he stole almost $2 million in real estate transaction deposits over the course of three years for some homes that were not even on the market.
Michael Flavin, 38, entered guilty pleas to two counts of wire fraud and two counts of aggravated identity theft in U.S. District Court in Boston on Friday.
He is scheduled to be sentenced on April 12. 2022.
According to prosecutors, Flavin marketed a number of homes, some that were not actually being sold or had already been sold, but he nevertheless presented to buyers and accepted purchase and sale agreement deposits. Flavin then forged the signatures of the “sellers” and stole the funds.
Over the course of three years, Flavin is accused of cashing more than 60 checks and taking about $1.8 million.
