Cops: Grandson Used Elderly Woman As Dupe To Score Loot In Real Estate Scam; Granny Left Embarrassed, Without Life Savings

In Highlands Ranch, Colorado, KUSA-TV Channel 9 reports:

• Kirt McGhee lied about his grandmother's income on loan applications and used her credit to buy four homes worth $2.5 million, a Mercedes Benz, a Hummer and $14,000 worth of furniture, 9Wants to Know has learned. He promised to pay it all back, but never did.
• Court records show he refinanced the homes and walked away with $100,000 in equity while the four homes fell into foreclosure, the Mercedes was repossessed and his grandma's life savings disappeared.(1)
• "It just breaks my heart to think that my grandson would do this to me," said Mary, who didn't want 9Wants to Know to use her last name because she's embarrassed. "It's shameful to me to think that I fell for it, allowed this to happen to me and I'd rather people didn't know."

For more, see Grandson charged with spending grandma's life savings.

(1) Reportedly, McGhee, 38, has been charged with:

• theft,
• defrauding a creditor,
• identity theft,
• crimes against at-risk adults,
• forgery,
• issuing a false financial statement, and
• obtaining signature by deception.

In a matter unrelated to the alleged scamming of his grandmother, the Colorado Division of Real Estate reportedly forced McGhee to surrender his real estate license last year, after an investigation found him guilty of making false promises to multiple renters in a rent-to-own racket. According to an investigative report in 2008, McGhee engaged in "a scheme to defraud renters and other participants in the Turn Key Investments, lease to own program," the story states.