Orem police say they arrested and jailed a man allegedly in the act of attempting to commit a $3.75 million real estate fraud.
Orem police Lt. Craig Martinez confirmed on Tuesday that Joseph C. Freed, 34, of Sandy, was arrested on July 9 and booked into Utah County Jail on suspicion of fraud, producing/transferring false identification and multiple counts of forgery.
Freed posted a cash-only bail of $20,000 the next day and was released pending court proceedings.
Martinez said police were contacted on July 7 by a suspicious title company which alleged Freed was attempting, under allegedly stolen identity, to "secure a loan for the purchase of 72 acres of land in Riverton in the amount of $3.75 million dollars."
While it appeared Freed had proper papers for the loan, inquiries by the title company allegedly revealed that the alleged victim "was not buying any property in Riverton and that the suspect was using his identity to secure the loan."
Detectives followed up with the purported identity fraud victim, who identified Freed as a "former business associate [who] might have all of his personal information."
After missing two appointments with the title company, Freed showed up on July 9 and was arrested, police said.
Martinez said detectives allegedly found Freed in possession of a fake Illinois driver license, and while he initially refused to give his real name, police subsequently confirmed his identity.
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