CT real estate agent pleads guilty to defrauding clients for years

A Connecticut real estate agent has been charged in connection with, and pleaded guilty to a fraudulent scheme involving short sales of government and bank-owned properties. 

Sheldon Haag, 34, of Glastonbury — who agreed to plead guilty to one count of conspiracy to commit wire fraud — allegedly defrauded his clients over several years by engaging in fraudulent transactions with straw buyers, the U.S. Department of Justice in Massachusetts said in a press release.

The scheme involved acquiring properties owned by the clients of the brokerage where Haag worked and using straw buyers including a shell company set up by a co-conspirator.

The charging document says Haag and his accomplices concealed their involvement as the actual buyers of the properties and used their insider knowledge as the owners’ broker to manipulate sale prices. 

They aimed to maximize their profits by flipping the properties later on. Additionally, the defendants allegedly submitted fraudulent renovation bids from contractors to their clients, including bids from the fake construction company they controlled. 

Once the clients accepted these inflated bids, Haag, who was with Agnelli Real Estate, and his co-conspirators hired cheaper contractors and pocketed the difference.

Conspiracy to commit wire fraud carries a maximum sentence of 20 years in prison, up to three years of supervised release, and a fine of $250,000 or twice the gross gain or loss, whichever is greater. 

The case will be prosecuted by Assistant U.S. Attorney Kriss Basil of the Securities, Financial & Cyber Fraud Unit.

Real estate agents run afoul of the law from time to time.

Utah real estate agent Kouri Richins, 33, was charged with murdering her husband, Eric, by fentanyl poisoning at their home outside of Park City in May. She was also charged with three counts of possession of a controlled substance with intent to distribute.

Early last March, the married couple celebrated the closing of a house sale by Richins, according to court documents. She allegedly made her husband a cocktail. Hours later, she was awoken by one of her kids, she told investigators, and returned to bed to find her husband cold to the touch and called 911.

Eric was pronounced dead at the scene after lifesaving measures failed, according to court documents.

At one point, Richins allegedly texted the acquaintance to ask for fentanyl. The person sold her 15 to 30 pills for $900, according to court documents.