Owner Of Phoenix Real Estate Company Accused Of Defrauding 40 Families

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.

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