DOJ: Owner Of Delaware Real Estate Company Pled Guilty In $3.32 Million Ponzi Scheme Case

David C. Weiss, United States Attorney for the District of Delaware, announced today that Carl Chen, owner of Chenmax Properties, Inc., a Delaware Real Estate Investment Trust, and part-owner of Re/Max Sunvest Realty Co., pled guilty in federal court yesterday to wire-fraud charges for defrauding investors. Chen’s sentencing is scheduled June 21, 2019, before the Honorable Richard G. Andrews, United States District Judge for the District of Delaware. Chen faces a maximum penalty of 20 years of imprisonment.

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First State Update's Delaware editorial team covers New Castle County, Kent County and Sussex County breaking news, political news, and general news stories. We bring the reader the latest news from the Wilmington, Newark, Dover, Rehoboth Beach and all point in between. If you have news to share, email us at

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