Gordon W Deibler, III, 53, and Renata Majda Deibler, 36, both of Litchfield Park, Arizona, have pleaded guilty in Maricopa County Superior Court to participating in a criminal syndicate by running several companies that defrauded clients of more than $1.5 million. The Deiblers owned and operated 1031 Exchange Consultants, LLC, Etna Land Trust, Executive Realty Group, a Management Consultants, LLC. Through these companies Gordon Deibler, acting as a qualified intermediary, accepted the proceeds from property sales for clients. Deibler was supposed to use the proceeds to purchase new property resulting in delayed tax consequences for his clients. Instead, he diverted his clients' money for personal use. The Deiblers used the scheme on seven different occasions between 1998 and 2008.
The Deiblers also worked with their handyman, Bronislaw Galica, to purchase a home in Galica's name in 2006. Gordon Deibler acted as the agent for Executive Realty Group and facilitated the purchase. Renata Deibler acted the broker for the transaction. The Deiblers gave Galica false credit and salary information to use on the loan application. Gordon Deibler also obtained an inflated appraisal for Galica to use in obtaining the loan. Galica bought the home and defaulted on the loan within a couple of months of the purchase.
Gordon Deibler pleaded guilty to one count of directing a criminal syndicate, a Class 2 Felony, and one count of fraudulent schemes and artifices, also a Class 2 Felony. Under the plea agreement, he must pay restitution to the victims in the amount of $1,559,644 and faces a prison term between 3 and 12.5 years. Renata Deibler pleaded guilty to one Class 4 Felony count of assisting a criminal syndicate. She must also pay restitution to the victims. The court has the choice of placing her on probation for up to three years or sentencing up to 3.75 years in prison.
Sentencing for the couple is scheduled for January 14, 2010.
The convictions are the result of an investigation by the Attorney General's Special Investigation Unit.
Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.