PHOENIX — Arizona Attorney General Kris Mayes has initiated legal action against two individuals accused of running a fraudulent foreclosure service, allegedly designed to deceive homeowners into forfeiting their property titles. Mayes announced the suit on Monday, targeting Edward Trenton Albarracin and Gretchen Marie Zamjahn, alongside 50 business entities linked to them.
The lawsuit contends that Albarracin and Zamjahn exploited vulnerable homeowners facing foreclosure, promising to alleviate their financial burden by catching up on overdue mortgage payments. Instead of providing genuine assistance, they reportedly instructed victims to temporarily transfer property ownership to a trust linked to fictitious companies controlled by Albarracin.
According to Mayes, Albarracin signed off on the deeds using the names of these bogus entities, with Zamjahn allegedly notarizing the documents, despite legal and ethical conflicts. “This scheme specifically targeted elderly Arizonans who were already struggling,” Mayes said. “It relied on deception, shell companies, and illegal notarizations to carry out their plans.”
Further complicating matters, the couple purportedly pressured victims to file erroneous bankruptcy or probate claims, exacerbating their predicaments, according to the Attorney General. Mayes expressed her commitment to pursuing any individuals targeting those in precarious situations, particularly seniors.
Mayes is seeking to invalidate all transactions that were improperly notarized by Zamjahn. A judge has already approved an emergency receivership concerning the couple’s assets, which comprise real estate, vehicles, and cash accounts. The lawsuit aims to recover restitution for affected homeowners, impose civil penalties on the operators, and prohibit the couple from engaging in real estate transactions in Arizona.
“I urge anyone who believes they’ve been victimized to contact my office immediately,” Mayes stated. Victims can reach her office at 602-542-5025 or via email at aginfo@azag.gov.
As the lawsuit unfolds, Mayes aims to shed light on the fraudulent tactics employed by Albarracin and Zamjahn, ultimately seeking justice for those affected by their unscrupulous actions.
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