Phoenix man pleads guilty in fraud case involving home loans

(Source: The Associated Press)

PHOENIX (AP) — A Phoenix man has pleaded guilty to one count each of fraud and money laundering for what state prosecutors say was a scheme to get cash loans by using victims’ homes as collateral.

The Arizona Attorney General’s Office says a plea agreement requires Daniel Barraza Nevarez to serve at least eight months in jail and to pay $21,708 of restitution for victims’ legal fees.

The office says Nevarez filed fraudulent quit-claim deeds transferring ownership of homes in Paradise Valley, Scottsdale, and Phoenix and then tried to use the homes as collateral to secure cash loans.

According to the office, Nevarez used a false identity but an undercover operation by the office and Scottsdale police produced his true identity.

Nevarez pleaded guilty Oct. 4 and faces a Nov. 8 sentencing.

Click/tap here to download the free azfamily mobile app.

© 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Locations

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.