A follow up to the blog written on Feb 4th 2017: Check that blog here;
The owner of the Santa Ana based company, Franklin Equity Corporation, Andres Oman Pacheco, was accused of stealing $540,000 from 6 victims in real estate deals according to Senior Deputy Attorney George McFetridge. These 6 victims placed a deposit on a property they wanted to purchase, and when the deal fell through, Pacheco would not return the money and pocketed their deposits.
There were four areas targeted in this crime, Moreno Valley, Victorville, Santa Ana, and Inglewood, McFetridge said.
Pacheco, on Wednesday, pleaded guilty to two counts of felonies of grand theft. Since he pleaded guilty there were a few other felony charges dropped.
Make sure to always do your due diligence. Real estate is the largest purchase most people make in their entire lives. Don't fall victim to these white collar crimes.