Sold! Mito Financial owner sells home for $360,000

Written by on July 12, 2017

Sold! Mito Financial owner sells Coppell home for $360,000




Versión en español

It only took a couple of weeks. Juan Miguel López, owner of Mito Financial, has sold his home.

A general warranty deed executed in Dallas County on June 30, 2017 states that Juan Miguel Lopez and his wife Irma Lopez transferred ownership of the property to the new buyers. The document does not include the sale price of the home, which is customary.

Sold for $360,000

My sources informed me that the home sold for $360,000, no seller contributions were paid to assist the buyers. The list price of the home was $379,000.

According to Dallas attorney Rocío García, who specializes in real estate transactions and is not involved in the Mito Financial case, a general warranty deed is the standard document issued when a home is sold.

The warranty deed was recorded after the real estate transaction was finalized in Dallas County and became public record.

The public records

Reporte Mito Financial Warranty Deed

Reporte Mito Financial Warranty Deed

The power of attorney

Dallas County Sheriff's Office

Dallas County Sheriff’s Office

Since Juan Miguel Lopez remains in jail, his wife, Irma Lopez, used a power of attorney dated May 11, 2017 -the day after his arrest-, to finalize the sale of the home.

Reporte Mito Financial Lopez Power of Attorney-1

Reporte Mito Financial Lopez Power of Attorney-1




Reporte Mito Financial Lopez Power of Attorney-1

Reporte Mito Financial Lopez Power of Attorney-1

 

The property

The property is located at 1304 Coral Drive, Coppell, TX 75019. It was advertised as an elegant two-story residence located on a golf course community, with five rooms, three bathrooms and 3,092 square feet.

The home was put up for sale soon after López’s arrest on May 10, 2017. The Mexican businessman remains in Dallas County jail facing theft, fraud and money laundering charges.

I brought the sale of his home to my readers’ attention after López requested a public defendant. He stated in court documents that he did not have any properties or assets to afford a lawyer.

I contacted the Dallas County District Attorney’s Office to inquire whether investigators in the case were aware that Lopez did not disclose the ownership of his home in his application for a public defendant.

Elizabeth Saab, Director of Communications for the Dallas County District Attorney’s Office, indicated:

“I am sorry but we can’t comment as it’s a pending case”.

While López awaits trial in jail, many Hispanic families in the Dallas-Fort Worth area and in Mexico are demanding answers. They want to get back the money they invested in López’s businesses.

The big question remains, where is the money?

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