Mission realtor admits to $770K real estate fraud scheme

MISSION, Texas (ValleyCentral) — A Mission realtor accused of a real estate scheme pleaded guilty to conspiracy to commit wire fraud.

Mario Alberto Rodriguez, 44, admitted he participated in a scheme that would defraud homebuyers and short-term lenders.

According to the U.S. Department of Justice (DOJ), Rodriguez sold proposed townhome construction without filing the warranty deed.

This left no record of the sale and allowed him to sell the same property multiple times.

Rodriguez would then instruct co-conspirators to take out new loans on the previously sold properties to use the cash for other purposes.

Construction was never completed, and victims were not able to possess the properties.

Rodriguez defrauded victims out of more than $770,000 as a result of the scheme, according to the DOJ.

He faces up to 20 years in federal prison and a possible $250,000 maximum fine.

Rodriguez's sentencing is scheduled for Aug. 12.