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Police probe embezzlement

Rio Rancho police executed a search warrant on a realty firm in the 4000 block of Peggy Road on Friday to investigate what they said is an embezzlement case that could have victimized homeowners associations and individuals.

Detectives said the alleged embezzlement appears to have been done by one employee since at least 2009. They said the employee allegedly victimized individuals, homeowners and businesses to the tune of hundreds of thousands of dollars.

The company, Double R Realty, manages nine homeowners associations and three commercial associations, a Rio Rancho Police Department lieutenant said in an email.

Detectives on Friday seized computers, filing cabinets and boxes containing financial documents as part of the investigation, the lieutenant said.

Phone calls to the realty company are answered with a recorded message, which states “recent events” regarding management and accounting at the company have been referred to law enforcement and the New Mexico Real Estate Commission, and that no more information will be provided.

“No other comment or information can be provided at this time during the pending investigation,” the unidentified voice states on the company’s answering machine.


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Police also said the investigation is “time intensive” and asked for patience when it comes to getting more information about the allegations.

The lieutenant said he anticipates charges to be filed when the evidence is examined.