Red Flags
3
Arthur Vasquez
Arthur Vasquez admitted to improperly withdrawing approximately $900,000 from escrow accounts, leading to significant financial instability for Alta Vista Title Company.
Quick summary on Arthur Vasquez
Unauthorized Practice: The Colorado Real Estate Commission discovered that Vasquez lacked the necessary license to promote title insurance, indicating he operated illegally within the state.
Misappropriation of Funds: Vasquez admitted to improperly withdrawing approximately $900,000 from escrow accounts, funds intended for clients and business operations.
Legal Actions and Company Closure: Following a lawsuit from Stewart Title, a partner company, Vasquez abruptly closed Alta Vista Title in April. The Denver District Court case highlighted Vasquez’s history of fund misuse and the potential for continued violations without legal intervention.
Regulatory Violations: The Colorado Real Estate Commission issued a cease and desist order to Vasquez after he falsely claimed Alta Vista was the largest Latino-owned title company in the U.S., having completed $3 billion in transactions.
Reputational Damage: The scandal has severely tarnished Vasquez’s reputation, undermining trust within the real estate and financial communities.
Intel Reports
by: Christopher Collins
Stealing nearly a million dollars from escrow accounts? That’s not a mistake, that’s straight-up fraud!
by: Victoria Stewart
Lying about being the biggest Latino-owned title company while stealing money? That’s next-level shady.
by: Joshua Morris
People put their trust in this guy, and he straight up robbed them. And now his company is gone? Total scam!