Owner of Arizona real estate company sentenced to prison for fraud

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Francisco Aguirre, sentenced to 7.5 years in prison for fraud.(Source: Arizona Attorney General's Office) Francisco Aguirre, sentenced to 7.5 years in prison for fraud.(Source: Arizona Attorney General's Office)
(Source: Arizona Attorney General's Office) (Source: Arizona Attorney General's Office)
PHOENIX (3TV/CBS 5) -

Attorney General Mark Brnovich announced Friday that Francisco Aguirre, the owner of an Arizona real estate company, was sentenced to 7.5 years in prison for fraud.

A judge ordered Aguirre to be placed on six years probation after he is released from prison and that he must pay $2 million in full restitution to the 40 victims of his scam.

[READ MORE: Real estate company owner faces prison time in fraud case]

"Aguirre's actions were absolutely despicable," said Brnovich. "He preyed on Hispanic families by using his multimedia broadcast show to put himself in a position of trust in the community. These families believed Aguirre would help them turn their dream of home ownership into a reality, instead they were scammed out of their life savings."

Aguirre pleaded guilty to one count of fraudulent schemes and artifices, one count of theft and two counts of forgery in January 2018.

According to Brnovich, from 2013 to 2015 Aguirre defrauded mostly Spanish-speaking families who wanted to buy homes. The families believed they were purchasing homes from Aguirre and gave him a down payment only to find out they never owned or had a title to the home. 

Many of the families were forced to vacate the homes after they had already paid Aguirre thousands of dollars in what they believed were down payments or monthly mortgage payments, Brnovich said. 

In some cases, Aguirre tried to sell the same home twice to two separate victims. 

Aguirre's fraud was carried out through his companies, Montecristo Properties, LLC, Montecristo Property Investments, LLC and San Marino Property Investments, LLC. 

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