VIRGINIA — The president of an international hotel brokerage firm was sentenced Wednesday to 11 years in prison for conducting a wide-ranging set of multi-million dollar fraud schemes involving the sale of several hotel properties, officials said.
Robert Timothy Koger, 48, formerly of Oakton, Virginia, was the president and sole owner of Molinaro-Koger, an international hotel real estate brokerage and advisory firm headquartered in Tysons Corner, Virginia.
Koger pleaded guilty on Jan. 16 to wire fraud and conspiracy to commit wire fraud.
The case was investigated by the FBI.
According to court records, the charges arose from three separate schemes executed by Koger, which resulted in losses exceeding $55 million:
- The first scheme involved Koger’s illegal flipping of hotels and promissory notes securing hotels in which Host Hotels and Resorts, L.P. and others were victims.
- In the second fraud, Koger executed a Ponzi scheme to steal and launder funds received from prospective buyers of hotels that were to be held in escrow while Koger negotiated with the hotel’s owners regarding the terms of the sale.
- In the third scheme, Koger defrauded a Tampa, Florida-based physician and businessman in connection with the latter’s ownership of a hotel in Pittsburgh.