Thursday, August 11 2022


After serving two years in prison, a once prominent real estate agent in central Iowa was denied permission to re-sell real estate in Iowa.

State records show Leonard Fazio applied for a new Iowa real estate license in March. The Iowa Real Estate Commission responded with a notice of intent to deny the application, giving Fazio until August 20 to appeal. According to the council, Fazio did not file an appeal, which led to the council’s recent decision to reject his candidacy.

In its decision, the commission cited Fazio’s 2005 felony convictions related to his work as a real estate broker, and said that in his application Fazio continued to “downplay the seriousness of his criminal acts and (seek) to dismiss the responsibility for his criminal conduct on others. “

Fazio was once a leading chartered real estate broker with his own leading RE / MAX franchise in Des Moines. At the time, he was also involved in the sale of other properties for out-of-state mortgage companies, particularly in connection with foreclosures and foreclosures.

Court records indicate that Homecomings Financial was one of the companies that hired Fazio to do such work, paying him either to sell properties “as is” or by asking Fazio to rehabilitate the property by hiring contractors. entrepreneurs.

In 2014, Fazio was indicted in federal court and charged with submitting claims to Homecomings for rehabilitation work that was never performed. He was also charged with wire fraud, charges that stem from his management of an area in New Virginia, Iowa. Fazio told Homecomings the property was worth $ 40,000 as is, or $ 80,000 if rehabilitated.

Fazio then attempted to buy the property for himself, but each offer was summarily rejected by Homecomings, which had a policy of not selling to listing agents. Fazio then made an offer to purchase the land on behalf of his girlfriend. Homecomings accepted this offer for $ 48,000, after which Fazio marketed the property and obtained an offer to purchase for $ 110,000.

In 2005, a jury found Fazio guilty of two counts of wire fraud in connection with the sale of New Virginia land and one count of mail fraud over an inflated refund claim. He was sentenced to 24 months’ imprisonment, a $ 40,000 fine and $ 58,150 in restitution.

Until recently, Fazio operated a window cleaning franchise called The Squeegee Squad.


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