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rizona Attorney General Kris Mayes is suing "predatory" entities that allegedly tricked vulnerable homeowners into signing away their property. The lawsuit targets Edward Albarracin and Gretchen Zamjahn, along with over 50 entities they controlled, for an alleged real estate scam that has victimized hundreds of people.
According to the attorney general's office, the defendants posed as professionals who could help homeowners at risk of foreclosure, but instead tricked them into transferring their deeds into a trust. The deeds were actually transferred into shell companies allegedly controlled by Albarracin, with Zamjahn notarizing the transactions.
Mayes described the allegations as "immoral" and "disgusting behavior," comparing the scheme to a pyramid scam. Her office is seeking restitution, civil penalties, and an injunction from the courts. Anyone who may have been targeted by this type of scheme is encouraged to contact the attorney general's office.
