Two arrested in Texas for vehicle financing fraud

Two individuals were arrested in Horizon City, Texas, following an investigation into vehicle financing fraud. The El Paso County Sheriff's Office reported that Luis Fernando Jaquez, 35, and Briana Christine Cardenas, 34, had separately financed vehicles through Ibarra Financial Services.

Investigators determined that the tracking devices installed in both vehicles were removed before the automobiles were transported to Mexico. The investigation began after Ibarra Financial Services notified authorities that they were unable to recover the financed assets.

Jaquez faces charges of hindering secured creditors for an amount between $30,000 and $150,000, with a bond set at $15,000. Cardenas faces similar charges for an amount between $2,500 and $30,000, with a bond of $10,000. Both suspects were taken into custody at a residence on Paseo de Loma Court and booked into the El Paso County Jail Detention Facility.