Sentencing Put Off After Broker Repays $14,000

The sentencing of an Encino real estate broker who pleaded no contest in January to a criminal forgery charge was postponed Tuesday after she produced about $14,000 in restitution for her victim.

Sentencing for Edie Kelly, who was accused of forging a trust deed for $49,500, was rescheduled for Sept. 29 in Van Nuys Superior Court. She remains free on bail and retains her state real estate license while attempting to pay back the money.

Police say Kelly, who was once active in ethics matters for the Valley Board of Realtors, apparently kept the proceeds from the forged trust deed and forged another for $40,000. But charges were dropped in that case because she made restitution to the investors involved, police said.

Trust Deed Purchased in 1984

A trust deed is an IOU secured by real estate. The forged trust deed that led to the charge against the 51-year-old broker was purchased by Karen and Einar Anderson of Saratoga, Calif., in August, 1984. Karen Anderson is a licensed real estate broker who once worked for Kelly.

Kelly, who filed for bankruptcy in 1982, is being sued by Mary B. Rabellino of Topanga, the owner of the property in the 16000 block of Ventura Boulevard that was the subject of the disputed trust deeds. Kelly still has her Red Carpet Real Estate business at that location.

Rabellino’s suit does not cite a specific dollar loss, but she said in an interview that her losses exceed $329,000.

Kelly also is the target of a lawsuit by the Andersons, who are seeking $1 million in damages besides $49,500 for the trust deed, $1,500 for a brief extension on the loan, and interest.