In Albuquerque, former home builder William Kalinowski is accused of nine fraud and embezzlement charges, according to Edmundo Carrillo of the Albuquerque Journal.
Kalinowski, who’s been an Albuquerque Public Schools teacher while free pending trial, is accused of bilking investors and home buyers out of hundred of thousands of dollars by not completing homes in the upscale Las Campanas subdivision near Santa Fe. Several contractors also claim Kalinowski never paid them for the work they did on his projects.
Kalinowski's defense attorney Hans Erickson said the housing crash had a lot to do with Erickson's issues.
Erickson said Kalinowski was hit hard by the housing market crash of 2008. He had a reputation of being slow to pay people back, Erickson said, but he had always paid his debts. “Things got really bad in 2007 and 2008, and Bill wasn’t the only person to lose money during this time,” Erickson said. He acknowledged that “a lot of people” didn’t get paid when Kalinowski’s company went down.