Arizona’s efforts to combat fraudulent real estate practices intensified as Attorney General Kris Mayes filed a lawsuit against Edward Trenton Albarracin and Gretchen Marie Zamjahn. They are accused of orchestrating a deceptive scheme targeting elderly homeowners. Along with more than 50 entities under their control, the pair allegedly misled homeowners with false promises to prevent foreclosure, ultimately acquiring their properties through deceit. According to an announcement by the Attorney General's office, Albarracin and Zamjahn operated under a range of misleading identities, including "Hands with Hope," portraying themselves as financial saviors.
Details from the Attorney General's office suggest that the scam involved contacting homeowners in distress, with offers to restore delinquent mortgages, while tricking them into thinking they were temporarily transferring the deed to a trust; however, documents were actually shuffled to Albarracin-controlled shell LLCs with deceptive names like "Lupo Family Trust, LLC." Albarracin is reported to have authorized these transactions, while Zamjahn, his spouse, illegally notarized them despite her personal involvement. Her actions are closely linked to the fraudulent scheme. Additionally, the plaintiffs were allegedly pressured to file false bankruptcy or probate cases to further extend the deception.
The Attorney General has filed charges under the Arizona Consumer Fraud Act and the Adult Protective Services Act. The lawsuit seeks to void any transactions improperly notarized by Zamjahn. Last Wednesday, Judge Scott Minder authorized an emergency receivership over Albarracin and Zamjahn’s assets, appointing Peter Davis as the receiver. Albarracin’s recent health issues, including strokes and a cancer diagnosis, have been noted in relation to concerns about potential financial exploitation.
The Attorney General's Office is gunning for restitution for the victims and seeking civil penalties against these alleged predators, hoping to disqualify Albarracin and Zamjahn from any future real estate dealings within Arizona through a permanent injunction, Mayes has also called upon the state's citizens, especially those who suspect being preyed upon by such operations, to step forward, stating, "I will go after any scam artists targeting homeowners, especially those targeting vulnerable adults and senior citizens," as per the Arizona Attorney General's office.
This legal action, State of Arizona v. Edward Trenton Albarracin, Gretchen Zamjahn, et al., case number CV2025-029139, is currently being managed by Senior Litigation Counsel Shane Ham and Assistant Attorneys General Liza Lawson and Suzanne Pendergast from the Consumer Protection and Advocacy Section.
