Police arrest former real estate broker
Gathan Anderson, the disgraced exreal estate broker who was sued this month for selling a home he did not own, was arrested Monday on suspicion of theft by fraud.
Anderson was arrested by Milwaukee police at his home on N. 24th Place after an investigation that revolved around allegations he repeatedly sold properties he did not own. Some of the properties were sold by an entity called Inner City Development Project Inc., a one-time nonprofit that had its IRS standing as a charitable group revoked for failing to file financial documents.
The police probe includes allegations that some of the properties were actually owned by the city.
The Journal Sentinel on Friday reported that Robert Yorker, 66, sued Anderson, 44, contending Anderson collected $14,000 by twice selling a home via quitclaim deeds even though Yorker actually owned the property.
In a quitclaim transaction, a person sells any interest that he may or may not have in the property.
Yorker did not know about the sales until he tried to sell the vacant house himself but was told he could not do so because of the previous sales. Yorker then learned people were living in the house even though he was the owner, the suit said. “This is what needs to happen to him,” Yorker’s longtime friend, Mary Armstrong, said of the allegations. “He needs to pay for what he’s doing.”
Armstrong said she and Anderson had a testy exchange last month, during which Anderson claimed the house had been donated to him.
Sources said the investigation that resulted in Anderson’s arrest was linked to homes other than the Yorker property.
Anderson gave up his real estate broker license three years ago when he was under investigation by state regulators. As part of his deal with regulators, Anderson agreed that he would never receive a Wisconsin broker’s license again.
“I’m just glad that he was caught. Justice will be served and he will get what he has coming,” Yorker said. “I’m glad they caught this guy.”
Anderson was being held Tuesday in the Milwaukee County Jail.