Trial for Infinite Properties Investigation Begins
WESLACO – The trial for an alleged fraudulent home financing company calling themselves Infinite Properties started Tuesday.
CHANNEL 5 NEWS is continuing coverage of the investigation which started last November.
U.S. District Judge Randy Crane swore in 14 jurors on Tuesday. We also learned 110 potential witnesses could be called for the case.
In October, CHANNEL 5 NEWS asked the McAllen and Mission police department if they had any reports, complaints or any other documents concerning Infinite Properties. They each told us no.
In court, a McAllen police department detective, who specializes in property crimes, testified the department had 15 complaints from July through December of last year, including two complaints from this year.
He said the money taken from those victims ranged from between $7,000 to $65,000.
According to court complaints and documents, the suspects promised people with bad, no or not enough credit the homes of their dreams. They then told them to give Infinite Properties a 10 percent cash down payment upfront.
Realtors told CHANNEL 5 NEWS people should give their money down at the closing of a real estate transaction.
Judge Crane explained the trial is expected to continue through next week.
If convicted, the defendants could each face up to 30 years in federal prison and a possible $1 million fine.