Robert Flaxman, The CEO of Crown Realty, Passed Away with A Huge Wealth!

Robert Flaxman, an American real estate mogul, has gained notoriety for his part in the college admissions scandal that rocked the nation in 2019. His death has brought him back into the public eye.
Crown Realty & Development, established in Southern California, is a national real estate corporation prominent in Arizona and other states, although it has just filed for bankruptcy.
Over the past three decades, the company’s creation and funding of a wide variety of nationwide initiatives have earned widespread recognition. The Burbank Mall is one of the company’s most notable achievements, although it has also been involved in a number of other successful projects.

How Much Money Did Robert Flaxman Have?

robert flaxman net worth

Between $5 million and $17 million is how much money is thought to have been in Flaxman’s bank account when he passed away. His company, The Real Deal says, was in charge of a $600 million real estate portfolio before his arrest.
The Daily Beast claims that Flaxman, a real estate billionaire, was a flamboyant individual who drove around in Rolls Royces, dated a Playboy model, hosted extravagant Beverly Hills pool parties, and occasionally used the identity, of Robert Emerald.
Flaxman reportedly earned $34 million from the sale of two adjacent Beverly Hills mansions after finishing his term in 2020, as reported by the Los Angeles Times.

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Flaxman Is One of Many Parents Charged with College Admissions Fraud.

Flaxman was one of the 33 parents engaged in the “Varsity Blues” controversy that rocked American universities in 2019. William “Rick” Singer, the ringleader of the scam, was hired by wealthy and famous parents to help their children cheat on standardized tests and bribe college admissions officers.
To help his daughter get into college, Flaxman paid Singer $75,000. According to the WSJ, Flaxman’s daughter began expressing an interest in higher education while she was a resident at a Montana boarding school for problematic kids. Singer improved from a 28 to a 36 on the ACT, which allowed her to enroll at the University of San Francisco.
Flaxman was given a month in prison, 250 hours of community service, a year of supervised release, and a $50,000 fine after pleading guilty to one count of conspiracy to conduct mail fraud and honest service mail fraud.
A statement released by Flaxman’s public relations firm at the time of his guilty plea read, “He is genuinely regretful and realizes the seriousness of the offense.” He regrets whatever pain this may have caused. He agrees that the verdict and sentence handed down by the court are fair.
Flaxman revealed that he and his family had open discussions about his sentence in an interview published in the WSJ in January 2020. He told the WSJ, “The lesson for me is to rely more on them.” Expect them to figure out their own way.
Full House’s Lori Loughlin and Desperate Housewives’ Felicity Huffman were both found guilty in the scandal. Two months in jail, two years of probation, 100 hours of community service, and a $150,000 fine were Loughlin’s punishments.
Huffman received a $30,000 fine, one year of supervised release, 250 hours of community service, and 14 days in jail.

Flaxman’s Death Was a Suicide.

robert flaxman net worth

In 2019, Beverly Hills real estate developer Robert Flaxman pled guilty to conspiring with William “Rick” Singer, the mastermind of the “Varsity Blues” college admissions fraud. Last week at his Malibu home, Flaxman committed suicide.
The singer admitted to four charges. FBI Operation Varsity Blues investigated the scheme.
Flaxman’s attorney, William Weinreb, said that his client was misguidedly trying to help his daughter enroll in a “lower-tier school” due to her “checkered disciplinary record and modest grades” after years of challenges.
The singer told Weinreb that his daughter would not get into the University of San Francisco or any other school without a good ACT score.
Flaxman tried to enroll his daughter in a four-year college to fix her life. Weinreb stated Flaxman accepted Singer’s exam manipulation offer.
Weinreb claimed that Flaxman had attempted to redirect his daughter’s life by enrolling her in a four-year college, but that Singer had advised him that without a high ACT score, his daughter would have no chance of being accepted to the University of San Francisco or any other school. According to Weinreb, Flaxman agreed to Singer’s proposal to cheat on the exam.
In 2020, Flaxman put up for sale the first of his Beverly Hills mansions, asking for a total of $34 million.
The Los Angeles Times was the first to publish this story.

Final Words

Famous American commercial entrepreneur and real estate agent Robert Flaxman was worth an estimated $5 million to $17 million when he passed away. His 2019 role in the Los Angeles-based college admissions scam has brought him widespread notoriety.