M
ario Alberto Rodriguez, a 44-year-old Mission resident, has pleaded guilty to conspiracy to commit wire fraud. He admitted participating in a scheme that used fake warranty deeds to deceive lenders and real estate clients.

    Rodriguez would sell lots with proposed townhome construction without filing the warranty deed, leaving no record of the sale and allowing him to resell the same property multiple times. He'd then instruct co-conspirators to take out new loans on the previously sold properties, using the cash for other purposes.

    As a result of the scheme, Rodriguez defrauded victims out of over $770,000. Construction was never completed, leaving victims unable to take possession of the properties. Rodriguez faces up to 20 years in federal prison and a possible $250,000 maximum fine at his sentencing hearing on August 12. He remains free on bond pending the hearing.

    The investigation was conducted by the FBI, Texas Department of Insurance, McAllen Police Department, and Hidalgo County Sheriff's Office, with Assistant U.S. Attorney Amanda McColgan prosecuting the case.