Bradley Heinrichs recently pleaded guilty to attempted fraud for his role in a real estate scam that swindled money out of several investors.
PHOENIX — A defendant who was part of a “Ponzi scheme” in Arizona will spend the next decade on probation after pleading guilty to attempted fraud, public records show.
Bradley Heinrichs, 41, was sentenced last week in Maricopa County Superior Court to spend the next 10 years on supervised probation for his role in a complex real estate scheme that solicited up to $82 million out of investors.
Most investors believed their investments were secured by deeds of trust in parcels of land but the investors’ security interests were illusory, according to the Arizona Attorney General’s Office.
Heinrichs and another defendant, Stephen Hatch, were accused of using biblical quotes and religious references to gain the trust of investors.
Starting in the mid-2000s, Hatch would buy parcels of land in Arizona and then promised big returns to individuals who invested in the properties.
“Stephen Hatch is a con man who will spend the next five years behind bars for tricking Arizona families into investing in his Ponzi scheme,” Arizona Attorney General Mark Brnovich said shortly after Hatch…
