Pasadena Man Nabbed for Alleged $10,000 Real Estate Fraud

The Thousand Oaks, Calif. Police Department arrested a Pasadena man Tuesday for alleged $10,000 Grand Theft /Real Estate Fraud.

Jose Eduardo Martinez, Jr., 38, was arrested by Thousand Oaks detectives after they received reports last May 7 of the suspect’s alleged fraud.

According to the investigation of the Thousand Oaks Forgery/Fraud Unit, Martinez sold a residence to a victim, but did not not refund the $10,000 that the victim deposited after the suspect cancelled the sale.

Martinez, a former employee of a real estate company, allegedly wired the deposit intended for the victim into his personal bank account.

The suspect was booked into the Ventura County Jail in lieu of $10,000 bail pending his arraignment in Superior Court.