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Arrest warrant issued for Missing Real Estate Attorney

Missing Breckenridge Colorado real estate attorney Royal "Scoop" Daniel, 61 years, is now a wanted man. Daniel was first reported missing from his Breckenridge office on April 27, 2007. On 8 May 2007, the Police Department Breckenridge obtained an arrest warrant on suspicion of theft of Class 3 felony by Daniel in relation to its handling of his client's 1031 Real Estate Exchange funds.

A 1031 Tax Deferred Real Estate Exchange occurs when an owner sells investment real estate and use the proceeds of sale to the purchase of capital goods real. In this case the owner does not pay capital gains tax on the sale of the relinquished property, provided that the replacement property is of equal or greater value. Section 1031 Internal Revenue Code requires proceeds of sale to be held by a third interim replacement until the purchase is made.

It is said that Daniel, addition to serving as an intermediary for 1031 exchanges of real estate, used client funds to pay personal expenses and to finance the operations of other 1031 real estate clients. One investigator described this as a situation of "robbing Peter to pay Paul" and Daniel reached with music of at least $ 500,000.

Scoop, as was first reported missing on Friday 27 April, the belief of the whole community was virtually Breckenridge consensus that must have been the victim of evil. Scoop has been a long time resident of Breckenridge and is loved around the small mountain village. He was active in a local church and that a large amount of voluntary work for a variety of local organizations.

These fears were amplified by the silence of information nine 911 seconds phone call from the Scoop on the morning of his disappearance. Daniel also left his dog, car, keys, coat and hat back in his office.

That weekend, over 150 volunteers, working with local authorities, conducted an extensive search of the area within a radius two miles from the office of Daniel and the trails of the nearby Alps. No evidence of any crime or whereabouts of Daniel was found.

At the same time, Breckenridge Police investigated the possibility of Daniel's disappearance voluntary. The police learned that Daniel had left a paycheck in her secretary's desk, on the morning of his disappearance. I've never done this before.

Also in the morning, Daniel gave a clue to his residence to his girlfriend of five months. Him It seemed strange because I never closed the door. Daniel also gave some personal belongings that he said would not be needed for a while.

Research Daniel on the finances of states that is at the end of debt and money that could have been illegally and outside counsel Colorado Trust Account Foundation (COLTAF) accounts of consumer confidence, 1031 trust accounts of real estate, and business and personal accounts to pay business expenses and personal debt.

Power on May 1, 2007 for a previous client of Daniel got in touch with the Breckenridge Police Department with information relating to real estate transactions 1031 Exchange from a year earlier. The client stated that Daniel had given more than $ 250,000 in trust as part of the transaction and when it came time to produce the money, Daniel could not do so, admitting he used the money to pay other people's funds and 1031 was $ 300,000 in debt. The client also stated Daniel finally paid most of his $ 250,000.

Since the inception of the missing person case on 27 April 2007, the Breckenridge Police Department has been contacted by seven of the clients indicating that Daniel was Daniel Real Estate 1031 exchange funds on their behalf. Information provided by only four of these customers indicates that Daniel was holding at least $ 561,571 of 1031 funds in exchange Real Estate trust accounts. Less than half this amount has been discovered in all personal business, Daniel's different, and trust accounts. Breckenridge Police expect the records of the three other customers as well as others still in contact with the authorities, extend the discrepancy in the coming days.

Despite these recent findings, many members of the community of Breckenridge Colorado Scoop continue to believe that such a situation would not have created their own volition and is not willing to participate. This is a possibility that the authorities have not ruled out.

Copyright 2007 – All rights reserved by Ted Amenta

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About the Author

Ted Amenta is a Realtor® with Resort Brokers in Breckenridge Colorado, helping people buy and sell Breckenridge Real Estate and any real estate throughout Summit County Colorado. Summit County includes Breckenridge, Keystone, Frisco, Dillon, Silverthorne, Copper Mountain, Blue River, and Wildernest.

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