Argentine footballers report $2 million real estate fraud in US

Seven Argentine professional footballers and several other investors have filed criminal complaints in La Plata, Argentina, alleging they were victims of a real estate scam involving properties in Baltimore, Maryland.

The victims, including players such as Facundo Fraga, Ezequiel Cerutti, and Leonardo Jara, reportedly invested a total of more than $2.1 million. The scheme promised a “turnkey” investment model where funds would be used to purchase, remodel, and rent out homes, offering estimated annual returns of 10% to 11%.

According to the legal complaint, investors discovered that they did not hold title to the properties and were unable to determine the final destination of their funds. Instead of profitable rentals, they found abandoned houses, unfinished construction, structural issues, and outstanding debts.

The investigation, led by prosecutor Gonzalo Petit Bosnic, is looking into allegations of fraud and illicit association. The complaint names several individuals, including Fernando Vicente Plastino and Rafael Mugica Lázaro, as part of the alleged scheme.