Real estate ponzi scheme included carwash venture - Professional Carwashing & Detailing

Real estate ponzi scheme included carwash venture

SONOMA COUNTY, Calif. — The man responsible, defendant Aldo Joseph Baccala, received a 20 year prison sentence and ordered to pay a $6.4 million fine.

SONOMA COUNTY, Calif. — Aldo Jospeh Baccala has been sentenced to 20 years in prison and ordered to pay $6.4 for running a real estate "ponzi scheme" which included a carwash venture, a Lake County News article reported.

The June 24 story stated Attorney General Kamala D. Harris and Sonoma County District Attorney Jill Ravitch announced the sentencing on Monday.

Harris stated in the story, “This fraudulent investment scheme cheated dozens of elderly investors out of millions of their hard-earned dollars. The dedicated investigators in our Financial Fraud Section, along with our local partners, will continue to protect California’s investors and consumers by bringing perpetrators like him to justice.”

Baccala, who was arrested back in 2012, was caught soliciting funds from victims asking them to invest in assisted living facilities, a carwash and other businesses.

Read also: Man who claimed to be opening a carwash chain is sentenced by judge

Ravitch stated in the story, “Along with the Attorney General’s Office, our office expended incredible resources in order to bring this scam artist to justice. The scale and scope of this man’s fraud on unsuspecting investors is staggering. That so many of his victims lost their livelihoods, their homes and their retirement savings, to this man’s scheming and greed is beyond tragic. This was not just a fraud he perpetrated, but a crime against their futures and the emotional toll is incalculable. Thus, we believed his loss of liberty should be in proportion to their loss.”

To read the entire story, click here.

You May Also Like

Reaching new reclaim heights

Advancements and innovations in water reclaim that improve quality and expand use.

Reaching new reclaim heights

There is a lot of variety in the carwash industry. Not only are there different types of washes, but the design, equipment, chemistry, staffing and service can greatly vary from one site to the next. However, there’s one non-negotiable constant in every wash: Water.

Since water — and lots of it — is so essential to this industry, it only makes sense to strive for ways to maximize every single drop. That’s where the reclaim process comes in. Collecting, rehabilitating and reusing as much water as possible is essential to protect the environment, the availability of resources and a carwash’s bottom line. That’s why industry leaders are currently driving innovation to find ways to reclaim even more water than ever.

SCWA announces recording breaking attendance for 2024 EXPO

FORT WORTH, Texas — The convention was highlighted by two nationally recognized speakers: Stu Crum, CEO of True Blue Car Wash, and football legend Emmitt Smith.

Glide Xpress Car Wash announces grand opening of new Cordova location

GERMANTOWN, Tenn. — Glide Xpress Car Wash expands to five locations in the Greater Memphis area.

Glide Xpress Car Wash Grand Opening
Express Wash Concepts celebrates 4th consecutive year on Inc. magazine list

COLUMBUS, Ohio — According to Inc. magazine, EWC ranked #80 on the 2024 Inc. 5000 Regionals Midwest list with a two-year revenue growth of 147%.

Whistle Express acquires 3 more washes from 2 brands

CHARLOTTE, N.C. — The company will invest in converting the three washes to Whistle Express locations by mid-March, including upgraded wash technology and new signage.

Other Posts

Bill Martin honored with Lifetime Achievement Award

BOISE, Idaho and FORT WORTH, Texas — The Metro Express Car Wash founder and CEO was presented the award by the Southwest Car Wash Association.

Bill Martin Honored with SCWA Lifetime Achievement Award
AMP launches mobile app, customer experience platform for ZIPS

ATLANTA — The technology AMP brings to the ZIPS brand will help improve customer engagement, and provide a more comprehensive approach to the company’s brand marketing strategy.

AMP launches mobile app, customer experience platform for ZIPS
Spark Car Wash celebrates 5th location opening

SUMMIT, N.J. — The milestone represents the first of many Spark Car Wash openings slated for 2024.

Leading from the front

Being a team leader is about making the group better.

How to decide on a team leader