Sunday, December 6, 2009

The Case To Date: Michael Comer Embezzlement Scandal

Scroll down for synopses and complete list of posts on the Michael Comer / Glenmore Scandal.
Update 7: April 13: Comer to appear in court, said to plead guilty. 
Update 6: April 9: Comer's Brother-in-Law's RE Agency Teams Up With BHG
UPDATE 5: April 7: Comer Relists Investment Property For Sale At 35% Below Orig Asking
UDATE 4: February 4: Comer Residence Sells For 32% Less Than Original Asking Price
UPDATE 3: February 1: Part I of Glenmore Scandal Ending; Comer Set to Plead Guilty April 13  
UPDATE 2: January 20: Another Comer / Kessler property goes up for sale. 
UPDATE 1: December 7 court appearance, click here. 

It's a real estate saga that reads like the beginnings of a Grisham novel--except that things never turned as spectacular or as dark.  Instead, it has the elements of student fiction: the nouveau-riche, a husband who was never gainfully employed outside the family, a wife who was almost a champion athlete, the constant pressures of needing more and keeping up with appearances in a planned community squatting in the middle of Albemarle County's oldest farms/estates and established families...and a successful brother-in-law floating cash over the mess.  Yes, the Michael Comer embezzlement scandal has kept folks talking for months now....

To recap:
Glenmore's ex-Treasurer, ex-Country Club President, the Accused Michael Comer, will face a Grand Jury at Albemarle County Circuit Court, Criminal Division, for Indictment on  Five Charges of Alleged Embezzlement Monday, December 7.   

Comer disappeared at the beginning of July and days later it was announced that $666+k was also missing, apparently embezzled.  Michael Comer worked for Glenmore Associates, the Developer of the Glenmore Community.  His brother-in-law, Jeff Gaffney, headed up the company, and is also CEO of Real Estate III.  Gaffney's wife is the sister of Comer's wife, Kandi Kessler, who was Golf Pro at Glenmore; their father was the original mastermind at the community.

The following posts appeared on this blog as events unfolded.  The posts include some analysis and commentary; the posts also link to other sources in the MSM.  The first set of posts is about Michael Comer; the second set of posts is about his properties, all of which went up for sale after he disappeared.  In chronological order, from most recent back to July.

Michael Comer and the Elements of Embezzlement  
Did he or didn't he?  These are the basic, common law elements of embezzlement. Read

Glenmore Associates Reaches Out-of-Court Settlement to Pay Back Michael Comer's Alleged Embezzlement  
Giving the homeowner's association some cash and deeds to promise payment - That was fast.  But where's Glenmore Associates own forensic audit? Read

Glenmore's Michael Comer Plans to Fight Embezzlement Charges

Why not?  Claiming ignorance often goes a long way. Read

Glenmore's Michael Comer: The Unanswered Questions 
Did Comer's extended family know anything?  Where did Glenmore Associates, the Developer, think all that cash was from?  Who knew anything and when did they know it?  etc. Read

TUESDAY, JULY 28, 2009
Glenmore's Michael Comer Now on "Staycation" in His Home, After a Month in the "Unknown"
Details on where Michael Comer hid for nearly a month have never been released. Read

FRIDAY, JULY 24, 2009
Glenmore, After Michael Comer: A New Era of Competence and Transparency?
An awful lot of angry homeowners not only want competence and transparency, they want money and Comer's head on a platter.  Links to the audit report. Read

Wife of Missing Glenmore Treasurer Michael Comer Issues Partial Statement
What Kandi Kessler Comer said and, importantly, what she did not say. Read

TUESDAY, JULY 21, 2009
Michael Comer Update: Glenmore Community Association Announces $666K Missing Along With Ex-Treasurer  It took nearly three weeks, but finally what the County was buzzing about became announced as a reality.  Read

Missing Glenmore Development Associate Michael Comer - Update  The search was called off, and other "possibilities" were being considered.  Read

MONDAY, JULY 6, 2009
Michael Comer, Glenmore Country Club Prez and Developer, Still Missing  Read 


Shortly after Michael Comer's disappearance, his primary residence, resort retreat, and an investment property went on the market.  Which made one wonder--how were these sales going to close if Comer wasn't available to sign any contracts? 

The property listings on the internet: 
2930 Milton Village Lane

54 Firtree Drive

3808 Richmond Road - Price was reduced to $325K, but now increased to $429K with a 6 acre lot

THURSDAY, SEPTEMBER 17 Glenmore's Michael Comer: Price Reduced Again on Primary Residence, Now Asking Less Than What Was Paid  Read

Glenmore's Michael Comer's Asking Price for Primary Residence Reduced By $173K Read

Michael Comer Update: Prices Reduced on Wintergreen and Albemarle County Houses Listed For Sale Read

Michael Comer's Home in Wintergreen For Sale Read

FRIDAY, JULY 24, 2009
Missing Glenmore Treasurer Michael Comer's Home For Sale Read

No comments: