Andres Oman Pacheco, 40, has been sentenced to four years in prison after pleading guilty to the following crimes in a real estate fraud case:
Two counts of grand theft, both felonies
Admitting a sentencing enhancement allegation for aggravated white collar crime exceeding $500,000
The victims put money on deposit to buy property and when the deals fell through Pacheco would not refund the money, McFetridge said.
Pacheco was the owner of Santa Ana-based Franklin Equity Corporation/Signature Escrow, according to Senior Deputy District Attorney George McFetridge. His victims had entrusted him with $540,000 to invest in properties. When the sales failed to close, Pacheco refused to return their money.
Read the original article in the OC Register.