Yuma, Arizona February 2, 2012 - "As far as the AEA Trial goes, it's the sensational story in Yuma, that's for sure."
Yuma Real Estate Broker Todd Burch has been in the news lately.
"I was the buyer's agent as a Realtor for [Frank] Ruiz on the purchase of the Kress, on the purchase of the 50 acres near the Tuscan Ranch project," says Burch. "I was working on and also on the house that was bought down in Vista del Valle."
He's also being called to testify in the AEA Fraud Trial.
"I've been called by the prosecution, I've been called by Rhonda Liddle's attorney and also by Bill Liddle's attorney."
Burch had been interviewed by the FBI And was told he wasn't a target in their investigation.
"I think people think there's guilty by association, but what you'll find is with most of the businesses around AEA, we were business owners that were seeking money and seeking funding from AEA," says Burch. "We weren't being approached with 'Hey, do you want to do this deal, do you want to do that deal?'"
Last September, Burch filed a $34 million-dollar lawsuit against AEA.
"I spent the late morning going to the County Courthouse to see my properties go to auction, based on the fact that AEA couldn't run a credit union."
Burch believes AEA's poor management and direction by the top brass hurt many honest local businesses who dealt with the credit union.
"What we find, as business owners, we don't know the regulations that hold them to the fires, as far as what they have to report to the Feds," says Burch. "And if they go beyond that, you know, the Feds have no choice but to shut them down on their loans, which then results in lines of credit for these businesses getting revoked, you know. And then AEA, rather than working with people, just went out and started suing for what was on their lines of credit."
When asked if he believes he'll collect anything from his lawsuit against AEA, Burch, who's worked as a Realtor for nine years, is hopeful.
"There maybe a chance something is left. That's my hope," says Burch. "You work that many years and spend that much time and effort and money on something, you know, you're hoping it works."
Email Alert Sign Up
Sign up here to receive breaking news stories from KSWT.com and morning updates to your email inbox.
Investigators looking for Modesto Cortes-Serillo who's suspected of gunning down a man after an argument is believed to be hiding out in Mexico. According to the Yuma Police Department their investigationMore >>
Man accused of killing a man outside a Yuma restaurant reached to children for help; now brother and sister are in jail. More >>
Yuma Police investigators have released more images of the man they believe is responsible for a string of robberies. According to YPD the man scene in these images robbed three convenient stores at gunMore >>
Police still need help finding man suspected of robbing three convenient stores at gun point.More >>
YUMA, Ariz. (13 On Your Side) - Yuma police say a dead woman was found in a car parked at Food City on 8th Street on Tuesday night, at around 6:20 p.m. Police are investigating her cause of death andMore >>
Yuma police are investigating the death of a woman who was found in a parked car Tuesday night.More >>
Web Producer: Lucy Valencia, Assignment Desk Editor WASHINGTON (AP) -- Declaring "we are not a deadbeat nation," President Obama warned on Monday that Social Security checks and veterans' benefits willMore >>
Declaring "we are not a deadbeat nation," President Obama warned on Monday that Social Security checks and veterans' benefits will be delayed if congressional Republicans fail to increase the government's borrowing authority in a looming showdown over the nation's debt and spending.More >>
Three people have been charged in connection with the assault of an 11-year-old boy that was videotaped and posted on facebook. Police were first made aware of the incident, after being contactedMore >>
Parents have been charged for abuse after video was posted of them rearing their child. More >>
GRAND CANYON NATIONAL PARK, AZ – The California condor population has another chick to count among its very small, but growing numbers. Peregrine Fund biologists confirm seeing one in a nest caveMore >>
GRAND CANYON NATIONAL PARK, AZ – The California condor population has another chick to count among its very small, but growing numbers. That brings the number of wild condor chicks produced by the Arizona-Utah flock this season to three.More >>