PHOENIX (AP) - A state grand jury has indicted the owner of a Phoenix real estate company for allegedly stealing up to $500,000 from 40 families in Arizona who wanted to buy homes.
The Arizona Attorney General’s Office announced Tuesday that Francisco Aguirre is facing felony charges of conspiracy, fraudulent schemes and artifices, money laundering, illegally conducting an enterprise, mortgage fraud, theft and forgery.
Prosecutors say Aguirre owned Montecristo Properties, Montecristo Property Investments and San Marino Property Investments from 2013 to 2015.
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The indictment alleges Aguirre made false statements and material omissions to families who believed they were purchasing homes from him and gave a down payment.
Prosecutors say the victims also made monthly payments as mortgage payments only to find out they never owned or had a title to the home.
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