By most measures, Washington is a great place to be a seller—the real-estate market is booming, and bidding wars are the norm. But there are some exceptions, like the recent sale of a seven-bedroom, seven-and-a-half-bath Colonial on Marwood Hill Drive in Potomac, which was listed as a potential short sale. Its former owner, Jinesh “Hodge” Brahmbhatt, sold the home for $1.9 million, according to Maryland property records; he bought it in 2006 for $2.6 million.
You might’ve read about the former financial adviser last year when he was under investigation for steering his athlete clients, including former Washington running back Clinton Portis, Detroit Pistons guard Brandon Knight, and 49ers tight end Vernon Davis, to invest in an alleged $18 million Ponzi scheme. Brahmbhatt’s lawyer, Alan Futerfas, says his client didn’t know the investments were fraudulent and was deceived by the scheme’s operator.
Nonetheless, Brahmbhatt, who in the 90s worked at Stratton Oakmont—the brokerage house made famous by Leonardo DiCaprio in the The Wolf of Wall Street—lost his firm, Jade Wealth Management. And the Financial Industry Regulatory Authority barred him from the securities industry for failing to appear at a disciplinary hearing related to the alleged fraud. Futerfas says Brahmbhatt had to sell the Potomac house as a result.
Among the home’s features: a grand two-story foyer, a home theater, a massive master closet, and two kitchens.
Find Marisa M. Kashino on Twitter at @marisakashino.