Arthur Gonzales Diaz from Anaheim, Calif. has been charged with seven felony counts of grand theft and one misdemeanor count of engaging in business as a real estate broker without a license with a sentencing enhancement for property damage exceeding $65,000. If convicted, he faces a maximum sentence of eight years in state prison.
According to documents, beginning in August 2008, Diaz is accused of illegally operating as an independent mortgage broker, even though his license has been suspended since 1998. He is accused of coercing Spanish speaking victims into giving him money for sham real estate deals, including loan modifications, short sales, home sales and purchases.
Diaz is accused of setting up three corporations Trans-World International Securities Inc., International Marketing Network Corporation, and Banco International Realty Inc. Diaz is accused of running independent operations out two Santa Ana, Calif. offices, a RE/MAX branch office and a Century 21 Real Estate office.
The Orange County District Attorney (OCDA) is asking for the public's help in identifying potential Hispanic victims of Diaz for defrauding more than $87,000 from Hispanic victims in the scheme.
For more information, visit www.usdoj.gov.