Fraud Down in Phoenix Arizona

Jeffrey Allen Herald, 49 of Phoenix Arizona, was indited on October 19th on two counts of fraud and artifices and one count of theft for providing unlicensed legal and mortgage services.

Herald allegedly stole more than $300,000 from clients by pretending to be a mortgage loan originator and lawyer. At least 21 victims paid him over $313,957 in legal and mortgage loan fees for services he never fulfilled. He did this by billing and receiving “refundable” origination fees for residential & commercial real estate loans, construction loans, small business loan, small business loans, and other types of loans. None of which he was even able to provide.

The Maricopa County Attorney’s Office received information leading to Herald’s arrest from a number of sources including the State Bar of Arizona, individual victims, the Arizona Attorney General’s Office, out of state agencies, and the Arizona Corporation Commission. Calls from victims came in from Arizona, Florida, California, Texas, New Mexico, Washington, Hawaii and Utah. Herald solicited people for loans between February 1st 2005 and October 1st 2007. He was also admonished by the State Bar of Arizona in 2006 for practicing law without a license under Phoenix based Herald & Herald Associates.

To read more about Man accused of fraud, stealing more than $300,000 head on over to Azcentral.