EL PASO, Texas (KFOX14/CBS4) — More than 35 victims have filed a lawsuit against Sierra Title Company, seeking over $1.4 million in damages.
The plaintiffs allege they were defrauded by individuals operating out of Sierra Title offices, who promised homebuyers properties they never received.
According to the lawsuit, the victims were lured by Facebook ads and instructed to meet at Sierra Title’s Mesa Street or Lee Trevino locations, giving the transactions an appearance of legitimacy.
Buyers were asked to provide down payments ranging from $15,000 to $50,000 to Sierra Title employees and the individuals involved, according to the lawsuit.
They were assured that home closings would occur within 30 days, but the transactions never materialized, and the funds were not returned, the victims allege.
The victims are now demanding repayment of the down payments and monthly payments made.
Attorneys David Joseph Morales and Francisco F. Macias is representing the plaintiffs.
“My name is Jeffrey Rangel and I’m a real estate investor and I’m a victim of Sierra Title,” said Rangel. “Sierra Tidal promised me legitimate transaction and I never received anything in back in return. We got evicted from the property eventually.”
“They actually took title from us, we were selling our home and we never closed, we never received anything other than a security deposit which we have in writing,” said Diana Ramirez, another victim.
“We’re suing Sierra Title for deceptive trade practices, false claims, and fraudulent activities. And we’re also suing the individuals that were involved in soliciting the clients,” said Morales.
They are inviting more victims to join the lawsuit.
KFOX14/CBS4 reached out to Sierra Title regarding the lawsuit.
According to Sierra Title CEO John King, one of their employees allowed “long-established customers” to sign papers on Sierra premises, violating their policies.
King added that the employee in question has since resigned and that he regrets what happened.
Below is King’s full statement:It is our understanding that certain long established customers requested as a courtesy that an employee of Sierra Title Company, Inc. allow them to sign documents on Sierra premises, and to act as a Notary Public for the signatures on certain of those transactions.These acts were in violation of Sierra’s Best Practices Policies, and the employee in question resigned.Sierra regrets that any of its employees acted outside their scope of employment, but cannot comment further on active litigation.
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