By Joe Ducey and Maria Tomasch | ABC 15
The Arizona Department of Real Estate issued a Cease & Desist Order on Dawn Anderson and her company, Maricopa Properties, LLC.
She is accused of violating numerous state laws by using other people’s money from a trust account.
Violations
The order shows she used the company’s trust account to pay for charges in Hawaii and New Orleans.
The trust account was supposed to hold the security deposits of renters who rented properties from her clients. The account is not supposed to be used for business operations or personal use.
Falling home prices have led to many investors buying homes to rent throughout the Valley. They hired property managers to run them.
During a regularly scheduled audit, the AZRE found the account was short money, had various charges posted, and had an unauthorized signer. Anderson also paid herself a monthly paycheck from the account.
