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DA: Man screws Mattapan senior out of her house, then drops her off at the Pine Street Inn

Kyle Pam, 28, was arraigned today on charges of larceny over $250 from an elderly person, perjury, embezzlement by a fiduciary and money laundering. Boston Municipal Court Judge Peter Coyne set bail at $10,000 and ordered him to stay away from the woman and her accounts, the Suffolk County District Attorney's office reports.

According to the DA's office, the woman, 68, and her brother inherited the house after their mother and siblings died. The woman continued to live in the house - although she had liens on the house for unpaid taxes and utility bills.

Pam allegedly approached the woman and offered to sell the home on her and her brother's behalf. The siblings agreed and the Probate Court appointed Pam personal representative of the estate in February.

In April, Pam petitioned the court to allow him to sell the Sanford Street property for $140,000. Pam recorded documents which gave the appearance this transfer for $140,000 had taken place, including Deeds from the estates to a woman which were based upon the court's approval. The investigation revealed that, despite Pam's claims that the woman was a stranger to him prior to the transaction, she was actually known to him and acted as a straw purchaser. After the property was fully transferred to the woman, she immediately sold it to a third individual for $232,000. Checks for the proceeds of the sale totaling $117,392.45 were endorsed directly to Kyle Pam, who deposited these funds into corporate bank account controlled solely by Pam. Pam went on to make several large withdrawals from the account and transferred additional funds to his personal account, prosecutors said.

Having left the elderly victim without her home and without proceeds from its sale, Pam dropped the woman off at the Pine Street Inn at the time of the closing.

Doherty told the court that evidence suggests Pam and the straw purchaser had already entered into an agreement to sell the home to the third individual for $232,000 at the time Pam represented to the court that he would sell the property for a mere $140,000. Bank records indicate that the third individual had obtained a bank check for a down payment on the property on March 31 – three weeks before Pam requested the bank's approval to sell the home for $140,000. The man who bought the property from the straw purchaser is not accused of wrongdoing in connection with the purchase.

Acting as personal representative, Pam in July filed documents with the Probate Court under the penalty of perjury reporting that the home was sold for $140,000, falsely stating that the proceeds had been distributed appropriately, and requesting that the estate be closed. However, prosecutors allege that Pam did not make payments to the victims and failed to disclose that he received a substantial profit from the May sale of the property.

The DA's office reports prosecutors and Boston Police managed to seize roughly $80,000 in Pam's accounts, after the woman and her brother went to Greater Boston Legal Services when they realized they'd been scammed.

Innocent, etc.

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Comments

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If he's convicted of the acts described, he should have every dime he owns taken from him, then spend the next 20 years making gravel from boulders. I know that the correctional system doesn't have that as an activity for inmates any more, but in his case, they should revive it. I can't imagine being suddenly homeless at 68.

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i do a litle bit of this work and when I as representative of the estate seeksa lienses to sell. The Court then sends the matter to a Guardian to represent the owner. The licnese to sell does not issue until the guardain filles a report with the Court

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And in that petition he would have to attest under penalties of perjury that the 140 was the best price he could get

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...for 30 years(!), so unfortunately one is put in mind of the saying about 'apples not falling far from the tree'.

ie, I hope the authorities are taking a close look at Mr. Rolando Pam's real estate dealings as well.

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A quick google search of the father finds people asserting: "I know Tyler Pam, his father Rolando, and Green Ink: they are criminals and scam artists. They con elderly people out of property and disabled people out of cash. As far as I know they haven’t been convicted – but they should be. Steer clear of them!" -It's unclear who Tyler is, but the name is awful close to Kyle. Seems like the family business.

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Sorry... but sometimes I just love to see what a similarly priced house in Boston would cost where my parents live in Nashville. Compare the pix in the link above to this: http://www.trulia.com/property/3215209926-3028-Harpeth-Springs-Dr-Nashvi...

Crazycakes

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Nice house in TN, though its a small lot.

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Yes, but it's in TN.

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We're not going to see him again ...

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Pam’s father, brother, two sisters, a niece, and a nephew attended the hearing. Some wept during the proceedings. “You are innocent until proven guilty and my son is innocent,” said his father, Rolando Pam. “He’s a wonderful young man, he’s the best and brightest.”

Pam’s father said his son knows the business and will fight the charges.
“He won’t run from this,” Pam said, regarding his son’s court case. “Only criminals run.”

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It's about time the law enforcement authorities caught up to Rolando and his sons infamous PAM SCAMS. Greed, Deceit, Forgery, Fraud are some of the main ingredients of the Pam Scam. The Boston Globe Spotlight team truly need to keep their lens wide open and aimed at these rogue wannabe real-estate mogul individuals.

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