A Seal Beach businessman was arraigned Friday, Nov. 18, on charges of real estate fraud.
He has entered a plea of not guilty, according to the Orange County Superior Court Web site www.occourts.org.
An arraignment is simply a reading of the charges in a case. A preliminary hearing will determine if the case will go to trial.
John Wesley Martynec, 36, of Long Beach, has been charged with 33 felony counts, including eight counts of grand theft.
The Orange County District Attorney’s Office has accused Martynec of stealing $302,000 from investors by promising to buy and re-sell foreclosed homes.
Martynec was arrested in August. The Seal Beach Police Department announced the arrest in a Wednesday, Aug. 24 press release.
The investigation began on Dec. 1, 2010, after the SBPD received reports of real estate fraud involving losses of approximately $292,000.
According to the DA’s Office, Martynec took money from investors to buy and sell foreclosed houses.
According to the Seal Beach Police, the investors placed their money with Samax Real Estate, LLC, a business with a Seal Beach address. Martynec was reportedly the only owner of the business.
Last year, police said Martynec never bought any properties.
At the time, Seal Beach Sgt. Steve Bowles said the city’s detective bureau determined that Martynec bought only one house with the money he had received from investors.
The SBPD did not identify the victims. The DA’s Office has identified four victims by first name and last initial only.
The DA’s Office has accused Martynec of falsifying documents, including deeds of trust, investment summaries, and 1099 interest statements to his investors.
Martynec is currently out on bail.
