News Summary
Arizona Attorney General Kris Mayes has launched a lawsuit against Trenton Albarracin and Gretchen Zamjahn for a real estate scam that preyed on elderly homeowners. With over 50 shell companies involved, the defendants misled victims into transferring property deeds with false promises of foreclosure assistance. The case highlights the emotional and financial damage inflicted on vulnerable individuals, as well as the Attorney General’s commitment to pursuing justice and protecting residents from exploitation.
Arizona – The Arizona Attorney General, Kris Mayes, has initiated legal action against Edward Trenton Albarracin, also known as Trenton Edwards, and Gretchen Marie Zamjahn, also known as Gretchen Edwards, for their involvement in a predatory real estate scheme targeting elderly homeowners. This lawsuit encompasses over 50 shell companies believed to be under the control of the defendants.
The legal proceedings reveal that Albarracin and Zamjahn operated under deceptive business names, including “Hands with Hope,” misrepresenting themselves as individuals who could assist homeowners in avoiding foreclosure. The Attorney General underscored the emotional and financial toll on vulnerable Arizona residents, particularly the elderly homeowners who were lured into this scam.
Investigators suspect that hundreds of victims have been adversely affected by this scheme, and this number could increase as more information comes to light. The defendants allegedly misled homeowners into signing over the deeds to their properties, claiming they could help bring the homeowners’ mortgages up to date. Victims were directed to temporarily transfer their home deeds into a trust, but this was a ruse; the actual deeds were transferred to shell limited liability companies run by Albarracin.
Documentation indicates that Albarracin processed the deed transfers, while Zamjahn purportedly notarized these transactions unlawfully. Furthermore, victims faced pressure to file false bankruptcy cases, which prolonged the duration of the scam and compounded the negative effects on their financial situations. The scheme specifically targeted elderly individuals and those with physical or mental health impairments, who may not have fully comprehended the nature of the agreements they were entering into.
One victim, Susan Tepley-Lupo, expressed feelings of shock and betrayal upon receiving a foreclosure notice. She recounted the emotional distress that accompanied the loss of her home, which represented years of hard work and dedication. This sentiment underscores the profound impact the defendants’ actions have had on the lives of their victims.
In response to the defendants’ financial instability, the Attorney General’s Office has sought an emergency receivership over Albarracin and Zamjahn’s assets. This step comes in light of Albarracin’s recent health challenges, including strokes and cancer. A preliminary agreement for cooperation has been established with Zamjahn, who is expected to provide crucial information regarding undisclosed assets.
As part of the legal action, the lawsuit seeks to obtain restitution for the victims, impose civil penalties on the defendants, and secure a permanent injunction to prevent Albarracin and Zamjahn from engaging in any future real estate transactions in Arizona. Attorney General Mayes reaffirmed her commitment to protecting vulnerable citizens and actively pursuing accountability against those who exploit them. She encouraged victims, or anyone who has been approached by similar schemes, to contact her office.
On August 20, Judge Scott Minder granted the request for receivership and appointed Peter Davis as the receiver to manage the assets owned by Albarracin and Zamjahn, which includes various real estate properties and account holdings. Additionally, there are indications that further assets linked to the couple may exist in Florida.
The unfolding case sheds light on the urgent need for vigilance against scams targeting the most vulnerable members of the community. The Attorney General’s Office remains dedicated to safeguarding the dignity and security of residents across Arizona, particularly those who may find themselves in precarious financial situations.
Deeper Dive: News & Info About This Topic
- AZ Family
- Wikipedia: Real Estate Fraud
- Hoodline
- Google Search: Real Estate Scams
- KTAR
- Google Scholar: Real Estate Fraud
- 12 News
- Encyclopedia Britannica: Home Foreclosure
- KYMA
- Google News: Arizona Attorney General Real Estate Scam
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
