For Immediate Release: March 07, 2017
Contact: Mia Garcia (602) 339-5895 or Mia.Garcia@azag.gov
Owner of Real Estate Company Accused of Defrauding 40 Arizona Families
PHOENIX - Attorney General Mark Brnovich announced a State Grand Jury indicted the owner of a Phoenix real estate company for allegedly stealing $300,000 to $500,000 from 40 families in Arizona. Francisco Aguirre is facing felony charges of Conspiracy, Fraudulent Schemes and Artifices, Money Laundering, Illegally Conducting an Enterprise, Mortgage Fraud, Theft, and Forgery.
From 2013 to 2015, Francisco Aguirre owned Montecristo Properties, LLC, Montecristo Property Investments, LLC, and San Marino Property Investments, LLC. The indictment alleges Aguirre and his employees defrauded 40 families who wanted to buy homes. Aguirre allegedly made false statements and material omissions to families who believed they were purchasing homes from Aguirre and gave him a down payment. The victims also made monthly payments as mortgage payments only to find out they never owned or had a title to the home.
All defendants are presumed innocent until convicted in a court of law.
Assistant Attorneys General Maura Quigley and Mary Harriss are prosecuting this case.
For a copy of the Indictment, CLICK HERE.
(Names of other defendants indicted in this case have been redacted due to lack of service)