- Associated Press - Tuesday, July 7, 2015

PHOENIX (AP) - The Arizona Attorney General’s Office says a real estate investor accused of misleading nearly 40 clients has been sentenced to six years in prison and ordered to pay nearly $3.6 million in restitution.

An FBI-led investigation found that 31-year-old Zavier Kay Hafiz of Phoenix fraudulently misled “generally unsophisticated real estate buyers” while doing business as ZK Group.

Prosecutors say Hafiz pleaded guilty to a count of fraudulent scheme and artifices in May. He also has been sentenced to seven years of probation.

Authorities say Hafiz misled one Phoenix victim to believe the title for a house sold in early 2012 was clear from any other claims.

However, Hafiz already had taken out a mortgage from a hard-money lender on the property and most of the properties he sold.


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