Tuesday, October 27, 2009

Guilty Plea for Real Estate Agent Charged with Fraud

PHOENIX - A 46-year-old former real estate agent who prosecutors say took advantage of a vulnerable elderly Tucson resident entered a guilty plea Tuesday.

Ammar Dean Halloum, of Phoenix, pleaded guilty to one count of theft/financial exploitation of a vulnerable adult, and one count of fraudulent schemes and artifices.

Halloum also agreed to pay over $200,000 in restitution to the victim and $30,000 for prosecution costs.

Halloum admitted that while he was working as a licensed real estate agent, he misrepresented himself to gain a title to a Gilbert home. The homeowner, an elderly victim suffering from dementia, was living in a nursing home when the papers were signed.

Halloum then flipped the property and kept the profit.

An investigation from the Elder Abuse Task Force led to Halloum's indictment. His license has since been revoked.

Halloum will face sentencing on Dec. 1 in Pima County Superior Court.


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