News Summary
Tearman Spencer, the former city attorney of Milwaukee, faces serious charges related to an alleged real estate fraud scheme involving conspiracy and misconduct. Spencer, along with a real estate agent, is accused of duping an individual into selling property from his family’s estate at an undervalued price while attempting to profit significantly through illegal means. As the case unfolds, Spencer’s potential penalties include considerable prison time and hefty fines, raising serious questions about accountability and practices within Milwaukee’s real estate landscape.
Milwaukee – Tearman Spencer, the former city attorney of Milwaukee, faces serious legal troubles as he has been charged with four felony offenses linked to an alleged real estate fraud scheme. The charges against Spencer include conspiracy to receive stolen property valued at over $10,000, conspiracy to launder money involving proceeds of between $10,000 and $100,000, conspiracy to commit criminal slander of title by filing false property documents, and conspiracy to falsely exercise a function of a public office. If convicted on these charges, Spencer could face up to $70,000 in fines and serve as many as 29½ years in prison, or potentially both.
Additionally, Spencer is already up against two separate criminal counts concerning misconduct in office and obstruction of an officer, which carry a maximum penalty of over four years in prison and fines that could reach $20,000. This array of criminal activities paints a grim picture for Spencer, as he confronts significant legal consequences for his actions.
The allegations against Spencer detail a scheme in which he, along with a real estate agent named Kennard Wragg, allegedly misled a local man to bypass probate court. The pair is accused of persuading the individual to sell property from his family’s estate for just $8,000, despite the property’s significantly higher market value. Adding to the severity of the situation, Spencer reportedly signed the deed and acted as the notary for the transaction, even though his notary license had been revoked in 2013.
According to the complaint, Spencer and Wragg had intentions of selling the acquired property for nearly $250,000 after obtaining it through illegal means. Concerns over “shaky” real estate transactions were already on Spencer’s radar during a separate interview with investigators regarding his misconduct case, further complicating his legal standing. A Milwaukee County Circuit Judge has since cautioned all parties involved in the transaction, stating that the earlier sale of the property is illegal and must be reversed.
In conjunction with Spencer’s charges, Kennard Wragg faces three felony charges stemming from the same real estate scheme, which could result in a maximum penalty of 26 years in prison and a $60,000 fine.
The property in question had changed hands in a sheriff’s sale, initially foreclosed from Honey Creek Corp Center III, LLC, for $8.5 million, despite a previously assessed and higher value. This incident is occurring against a backdrop of challenges facing Milwaukee’s office market, which has recently reported an increase in vacancy rates now sitting at 19.8%. In the third quarter, the office market absorbed 21,400 square feet of space, indicating a slight recovery compared to prior quarters.
The difficulties in the local office market have been attributed to pre-existing issues that have only deepened since the COVID-19 pandemic. The landscape continues to evolve, highlighted by companies like Mayville Engineering relocating their corporate headquarters to new office buildings, illustrating the ongoing fluctuations within the real estate market in the metro Milwaukee area.
As the case against Spencer unfolds, it not only raises questions about individual accountability but also shines a light on broader issues affecting real estate practices and the integrity of city officials. The legal proceedings will be closely monitored as they develop, with Spencer’s future hanging in the balance amidst these serious charges.
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Additional Resources
- Milwaukee Journal Sentinel: Tearman Spencer faces felony charges
- JLL: Milwaukee Office Market Insights
- Urban Milwaukee: Honey Creek Corp Center Sold at Auction
- Milwaukee Journal Sentinel: Office Building Foreclosure
- BizTimes: Gas Light Building Foreclosure News
- Wikipedia: Real Estate Fraud
- Google Search: Milwaukee Office Market
- Google Scholar: Milwaukee Real Estate
- Encyclopedia Britannica: Real Estate Law
- Google News: Tearman Spencer Real Estate
Author: STAFF HERE MILWAUKEE WRITER
MILWAUKEE STAFF WRITER The MILWAUKEE STAFF WRITER represents the experienced team at HEREMilwaukee.com, your go-to source for actionable local news and information in Milwaukee, Milwaukee County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Summerfest, Milwaukee Film Festival, and the Milwaukee Boat Show. Our coverage extends to key organizations like the Metropolitan Milwaukee Association of Commerce and Visit Milwaukee, plus leading businesses in manufacturing and brewing that power the local economy such as Harley-Davidson and MillerCoors. As part of the broader HERE network, we provide comprehensive, credible insights into Wisconsin's dynamic landscape.
