AG Mayes Has Called For A Lawsuit Against Fraudulent Real-Estate Company

Kris Mayes Attorney General

Arizona Attorney General Kris Mayes has filed a civil lawsuit against what she alleges is a large-scale real estate fraud operation that affected hundreds of Arizona homeowners.

"My office announced a civil lawsuit to stop a large-scale real estate scam that stole the homes out from underneath hundreds of unsuspecting Arizonans," stated Kris Mayes.

The defendants, Edward Albarracin and Gretchen Zamjahn, allegedly operated under various business names and presented themselves as professionals who could help homeowners avoid foreclosure.

Allegations in the Lawsuit

According to the complaint, the defendants allegedly told homeowners that they could avoid foreclosure by temporarily transferring property deeds into a trust arrangement. At the same time, their mortgage payments were brought up to date.

Although, informed by the lawsuit, deeds were actually transferred to Albarracin-controlled corporations, including "Lupo Family Trust, LLC." Following the complaint, Zamjahn reportedly provided unapproved notarized services, and Albarracin signed documents on behalf of these businesses. Reported by AZFamily, the victims were then pressured into declaring bankruptcy.

"These scammers pretended to offer a lifeline to homeowners in crisis, but in reality, they were stealing people's homes out from under them." Mayes expressed.

Court-Appointed Order

The Attorney General's Office requested an emergency order due to concerns about the defendants' financial status. On August 20, Judge Scott Minder granted the request and appointed Peter Davis as receiver to secure all assets, including real estate, vehicles, and bank accounts, reported by AZFamily.

“Some people may not even know that they have been a victim and unaware that their house has been stolen from them.” Mayes explained.

Ongoing Investigation

Zamjahn has agreed to work with the court and provide information about hidden assets. The investigation may expand to Florida, where more properties might be located.

Mayes has asked anyone who believes they may have been affected by similar foreclosure assistance schemes to contact the Attorney General's Office.

“Consider double checking if you or your loved one has transferred their property to a trust in the past few years” Mayes Concluded.

Ericka Piñon

Ericka Piñon is a state and federal politics reporter for Cactus Politics and a Journalism and Mass Communication student at Arizona State University. With a focus in public relations, she aims to deliver balanced coverage grounded in solid sourcing.