TUCSON, Ariz. (KOLD News 13) - An Idaho man has been indicted on multiple charges for allegedly running an illegal real estate business with another man for nearly a decade.
Bradley Heinrichs is accused of soliciting $82,000,000 from investors between January 2005 to December 2014 as part of a “complex real estate investment enterprise” involving commercial properties, according to a news release from the Arizona Attorney General’s Office.
Heinrichs’ co-defendant Stephen J. Hatch pleaded guilty to one count of fraudulent schemes and artifices in Maricopa County Superior Court, the release stated. Hatch was sentenced to five years in prison and ordered to pay $1,000,000 in restitution.
Heinrich faces a list of similar charges for a variety of alleged crimes, according to the release.