The owner of a small Arizona real estate company has been charged with running a mortgage loan fraud scheme that cost victims more than $6.3 million.

Hawkeye Real Estate Services owner Jon Richard Rattray was indicted by an Arizona grand jury on charges of fraud, money laundering, identity theft and forgery, according to local news outlet AZCentral. Rattray allegedly filed a series of forged lien release documents through his Phoenix-based company in order to free up equity and take out new loans.

Courtesy of Arizona Attorney General

As a result of the forged releases, homes would appear unencumbered to prospective buyers and lenders. After the Maricopa County Recorder’s County contacted the authorities about potentially fraudulent activity, Rattray was arrested at his home in Gilbert, Ariz. on Aug. 16.

Rattray is reportedly not licensed as a real estate agent or a mortgage officer. He did not respond to Inman’s multiple phone requests for comment.

Email Veronika Bondarenko

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription