Boston Man Leaves Woman Homeless After Fraudulent Home Sale

A Boston man drove an elderly woman to a local homeless shelter after stealing more than $117,000 in profits from the sale of her family’s Mattapan home, Suffolk County District Attorney Daniel F. Conley said.

Kyle Pam, 27, was arraigned in Boston Municipal Court on charges of larceny over $250 from an elderly person, perjury, embezzlement by a fiduciary, and money laundering. Judge Peter Coyne set $10,000 bail, ordered Pam to stay away from the victims, and take no action as the personal representative of the estates of the victims’ deceased relatives.

Doherty told the court that the victims, a 68-year-old Mattapan woman and her brother, were the heirs of a Sanford Street home after the deaths of their mother and siblings. The woman had for many years lived at the home, which was valued at approximately $250,000 but encumbered by liens for unpaid taxes and utilities.

Pam allegedly approached the woman and offered to sell the home on her and her brother’s behalf. The siblings agreed and the Probate Court appointed Pam personal representative of the estate in February. In April, Pam petitioned the court to allow him to sell the Sanford Street property for $140,000.

Pam recorded documents which gave the appearance this transfer for $140,000 had taken place, including Deeds from the estates to a woman which were based upon the court’s approval. The investigation revealed that, despite Pam’s claims that the woman was a stranger to him prior to the transaction, she was actually known to him and acted as a straw purchaser. After the property was fully transferred to the woman, she immediately sold it to a third individual for $232,000.

Checks for the proceeds of the sale totaling $117,392.45 were endorsed directly to Kyle Pam, who deposited these funds into corporate bank account controlled solely by Pam. Pam went on to make several large withdrawals from the account and transferred additional funds to his personal account, prosecutors said.

Having left the elderly victim without her home and without proceeds from its sale, Pam dropped the woman off at the Pine Street Inn at the time of the closing.

Acting as personal representative, Pam in July filed documents with the Probate Court under the penalty of perjury reporting that the home was sold for $140,000, falsely stating that the proceeds had been distributed appropriately, and requesting that the estate be closed. However, prosecutors allege that Pam did not make payments to the victims and failed to disclose that he received a substantial profit from the May sale of the property.

Suffolk prosecutors and investigators assigned to the DA’s Special Prosecutions Unit and Boston Police detectives seized approximately $80,000 held by Pam during the course of the ongoing investigation, Doherty told the court.

Pam is due back in court on Dec. 3.