PHOENIX – Ruben Diaz and Rodrigo Diaz are out of the real estate business after the Arizona Attorney General Office obtained an injunction against the duo. The men are now banned permanently from advertising, offering, or providing services in connection with the sale, purchase, lease, or financing of real property in Arizona.
In addition, Ruben Diaz owes $425,313 in restitution to consumers, as well as $100,000 in civil penalties to the State.
The men were accused of deceiving dozens of Spanish-speaking consumers in a variety of real estate-related transactions.
The Attorney General’s Office alleged that the father and son team used several companies, including ProSolutions LLC, to prey upon Spanish-speaking families who wanted to purchase a home. The men promised to find the families homes to purchase and arrange financing.
The men were accused of taking tens of thousands of dollars in down payments and had Spanish-speaking consumers sign documents in English under false pretenses.
According to the Attorney General’s Office, families who believed they were purchasing a home eventually discovered, sometimes years later, that they were only renters with no equity or ownership rights. In other instances, consumers gave the men thousands of dollars as a down payment for a home, with the promise that it would be returned to them if they did not make a home purchase. In reality, the men spent the down payments and never made the promised refunds.