Real Estate Company Owner Accused of Defrauding 40 Families

Rachel Dollar —  March 13, 2017 — Leave a comment

Francisco Aguirre, aka Francisco X Aguirre-Proano, aka Francisco Xavier Aguirre aka Francisco Xavier Aguirre-Proano was indicted by an Arizona State Grand Jury for allegedly stealing $300,000 to $500,000 from 40 families in Arizona. 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.

The other defendants in the case have not yet been released but the indictment also makes reference to Biltmore Property Investments, LLC.

The indictment was announced by Attorney General Mark Brnovich.

Assistant Attorneys General Maura Quigley and Mary Harriss are prosecuting this case.

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