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Goodrich Man Charged In Real Estate Plot

John Benjamin III Faces 11 Felony Counts

POSTED: 10:47 am EDT July 17, 2008
UPDATED: 5:30 am EDT July 18, 2008

Genesee County officials announced Thursday that an Arizona man who previously lived in the Flint area has been charged with 11 felony counts for stealing more than $1 million from his elderly clients.

During a news conference, officials said John Benjamin III, 39, of Chandler, Ariz., operated John Benjamin Tax and Financial Services at 2811 E. Court Street in Flint.

During the course of his dealings with customers, Benjamin persuaded each of them to invest their money in a real estate investment opportunity that, he promised, would return upward of 22.5 percent on their investments.

Investigative reports revealed that Benjamin's clients would frequently request information about their investments but they were never given truthful information.

"Several of the victims were widows who turned to John Benjamin for professional guidance on how to handle their assets after their husbands passed away," said Genesee County prosecutor David Leyton.

Shortly after Benjamin attempted to file for bankruptcy and his customers feared they would never see a return on their investments. However, a U.S. Bankruptcy Court Order denied Benjamin's attempt at discharging his debts through a Chapter 7 bankruptcy.

Leyton said that he has charged Benjamin with one count of conducting criminal enterprises which is a 20-year felony with possible fines of $100,000. In addition, Benjamin is charged with 5 different counts of embezzlement each with varying maximum sentences ranging from 5 years to 15 years.

Benjamin was also charged with five different counts of larceny by conversion carrying possible sentences ranging from 5 to 15 years in prison.

The Elder Abuse and Exploitation Prevention Team is handling the investigation and prosecution of the case.

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