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TUCSON (KVOA) – Arizona Attorney General Mark Brnovich has filed a lawsuit against two Tucson companies that allegedly defrauded customers in real estate transactions.
It’s a story that has followed News 4 Tucson for several years.
TIED TOGETHER: N4T Investigator: Evade Justice
Brnovivh argues that Deed and Note Traders and 881 Home manager David Kinas sold homes under wrap mortgage agreements and then made no payments on the underlying mortgages.
The lawsuit states that Kinas failed to make its loan payments despite taking thousands of dollars in down payments from customers and promising to apply their monthly payments to the underlying mortgage.
The lawsuit calls for repayment of up to $ 10,000 in civil penalties.
TIED TOGETHER: N4T Investigator: Tucson Home Investor Under Investigation
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