Multifamily Syndicator Patrick Carroll Arrested in Hollywood
Patrick Carroll's Arrest in Hollywood Raises Eyebrows
Patrick Carroll, also known as Michael Patrick Carroll, found himself in legal trouble once again when he was arrested in Hollywood on July 1 on a felony charge. The arrest took place at 9:30 p.m. and he was officially booked by the Hollywood Division of the Los Angeles Police Department early on July 2. Carroll remains in custody as of Tuesday afternoon, adding a layer of mystery to the situation, as authorities have been unable to provide specific details about the reason for his arrest.
Carroll, known for his involvement in multifamily syndication, has been in Los Angeles for at least a month, as evidenced by his social media activities showcasing his time in Beverly Hills, West Hollywood, and the Hollywood Hills. Just before his arrest, he shared videos of himself enjoying a luxurious lifestyle, driving a Rolls Royce, shopping, and relaxing in a pool at the residence where he claimed to be staying for the next month.
This recent arrest adds to a series of legal troubles for Carroll. Previously, he was ordered to undergo a mental health evaluation after reports of gunshots near his home in Miami Beach. Subsequently, his firearms were temporarily seized under Florida’s Red Flag law. In addition, in October, he was arrested for felony battery following accusations from employees at Gold Rush Cabaret in Miami. His behavior has also resulted in bans from several high-end Miami restaurants.
Key Takeaways
- Patrick Carroll arrested in Hollywood on a felony charge.
- Arrest occurred at 9:30 p.m. on July 1, booked early morning July 2.
- Carroll remains in custody as of Tuesday afternoon.
- Previous incidents include a mental health evaluation and felony battery arrest.
- Carroll recently sold his development firm for $80 million.
Analysis
The arrest of Patrick Carroll could potentially have far-reaching implications, particularly in light of his recent sale of his development firm for $80 million. This situation may lead to not only legal disputes but also financial repercussions. Investors and partners in his multifamily syndications could face scrutiny or may even consider withdrawing their support. In the short term, his businesses might experience operational disruptions, while in the long term, the damage to his reputation could affect his future ventures. The legal outcomes will have broader implications for the real estate and entertainment sectors in Los Angeles and Miami.
Did You Know?
- Multifamily Syndicator: A multifamily syndicator is an individual or entity that pools capital from multiple investors to acquire, develop, or manage multifamily properties, typically apartment complexes. They act as the deal organizer and manager, sharing profits with investors based on their contributions and agreed-upon terms.
- Red Flag Law: A Red Flag Law is a type of legislation that allows law enforcement or family members to petition a court to order the temporary removal of firearms from an individual who may present a danger to others or themselves. The court reviews the petition and can issue an order if it finds probable cause that the person poses a risk.
- Felony Charge: A felony charge is a serious accusation in the legal system, typically involving crimes that are punishable by more than one year in prison or by death. Felonies are considered more severe than misdemeanors and can result in lengthy incarceration and other severe penalties if convicted.