Glenview Real Estate Developer Among 6 Indicted

A Glenview real estate developer is among six defendants named in a 25-count indictment last week by a federal grand jury making an accusation of fraud in connection with the marketing and sale of condominiums at a 50-acre development in Palatine.

Theodore “TJ” Wojtas Jr., 43 is accused, along with 59-year-old Vince Manglardi of Long Grove, of using an assortment of advertising methods and sales pitches to falsely promote the purchase of condos at “The Woods at Countryside” with substantia, unsustainable financial incentive, among other charges.

The indictment alleges that Manglardi, Wojtas, and their four co-schemers committed various acts of wire fraud, mail fraud and false statements to financial institutions - “exposing numerous lenders and Fannie Mae and Freddie Mac to millions of dollars in losses.”

The indictment also seeks the forfeiture of $16 million. Each count carries a maximum term of imprisonment of 30 years and a maximum fine of $1,000,000.