It’s taken three years, but the co-owners of Regent Realty Group are finally facing federal charges of stealing more than $2 million from 48 condo associations, Crain’s and the Tribune report.
Regent co-owners Jay Strauss of Scottsdale, Ariz., and Donald Doering of Wilmette, allegedly defrauded condo owners by using money meant for property maintenance to pay off debts on a development. Complaints about Strauss and Doering have circulated in the press since January 2008, when condo associations began filing theft reports and lawsuits against the suddenly closed realty company. One year later, the missing money was the subject of a feature article in Chicago Magazine, by which point Strauss had sold his Chicago home and “retired to a Spanish-style villa in Scottsdale.”