Arizona man accused of forging deeds in a home loans scam
PHOENIX (AP) — An Arizona grand jury has indicted a man who allegedly used fake deeds in an attempt to take out loans on homes he didn't own including one valued at $3.5 million.
State prosecutors say Daniel Barraza Nevarez was indicted on multiple felony counts of fraudulent schemes and artifices, money laundering, forgery and criminal impersonation.
Nevarez allegedly filed a series of forged deeds transferring ownership of at least 18 different homes to himself, including some in Scottsdale and Paradise Valley.
The homeowners didn't know Nevarez and were unaware the deeds to their homes had been transferred to him.
Nevarez is accused of contacting home equity lenders to try to take out cash loans on the properties.
Authorities say they believe Nevarez was unsuccessful and he was arrested in an undercover operation.
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