Gilbert Man Indicted In Multi-Million Dollar Loan Fraud Scheme

A Gilbert man, Jon Richard Rattray, has been indicted by a State Grand Jury on felony counts of Fraud Schemes & Artifices, Money Laundering, Controlling an Illegal Enterprise, Computer Tampering, Aggravated Identity Theft, and Forgery.

The State alleges that Rattray, through his company Hawkeye Real Estate Services, LLC, filed a series of forged lien release documents at the Office of the Maricopa County Recorder with the intent of freeing up equity in homes he owned so that he could take out new loans on those same properties or sell them to purchasers as unencumbered property.

The alleged loss to victims is estimated at over $6 million.