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While the home foreclosure crisis continues to cripple the Valley economy, Congressional candidate David Schweikert has exploited the situation and profited handsomely.

It's no wonder that on the campaign trail Schweikert has been reluctant to talk extensively about what he now does for a living, describing his work in public statements as simply "a small businessman" or the operator of "a real estate business." [Schweikert Campaign Website]

Only after filing the required personal financial disclosures were Arizona voters able to see how much money Schweikert has been making through his foreclosure investment scheme. [2009 - 2010 Schweikert Personal Financial Disclosure]

In early 2009, Schweikert began purchasing hundreds of foreclosed homes though different real estate companies in his name [See list of PURCHASed homes]. In just over a year, Schweikert directed the sale of more than $11 million worth of these foreclosed assets.

CAMPAIGN WARCHEST:

Not only are the profits from Schweikert's foreclosure investment scheme lining his pockets, they are funding his congressional campaign warchest.

Mark Dioguardi contributed the maximum amount allowed by federal law, $2,400 to Schweikert’s primary election campaign in 2010. He also gave $2,300 to Schweikert’s campaign in 2007 during Schweikerts second unsuccessful run for Congress. Jennifer Dioguardi, Mark’s wife, also gave $2,300 to Schweikert’s campaign in 2007. [See Federal Election Commission Reports]

Mark is a partner at Dioguradi Flynn, LLP, which was responsible for recording Swartz and Brough’s Quit Claim Deeds.  This is the process where by Schweikert transfers foreclosed homes from Swartz and Brough to one of several holding companies. [See Quit Claim Deeds, below]

Andrew Swartz contributed the maximum amount allowed by federal law, $4,800 to Schweikert’s primary and general election campaign in 2010. [See Federal Election Commission Reports]

Andrew is the President, Director, Secretary and Treasurer of Swartz and Brough, Inc.

David Kruger contributed the maximum amount allowed by federal law, $4,800 to Schweikert’s primary and general election campaign in 2010. Debora Kruger (Sheridan Equities/ Contractor) also gave $4,800 to Schweikert’s campaign in 2010 [See Federal Election Commission Reports]

David acts as Sheridan Equities’ attorney in eviction court cases.

William Conner, contributed the maximum amount allowed by federal law, $2,400 to Schweikert’s primary election campaign in 2010. [See Federal Election Commission Reports]

William is counsel for Sheridan Equities Holdings, and also acts as an attorney for Sheridan Equities in forcible detainer court cases.

CHECK THE FACTS:

David Schweikert’s company Sheridan Equities Holdings LCC [See Arizona Corporation Commission Articles of Incorporation] has purchased hundreds of homes through Swartz and Brough, a Texas based company where Schweikert serves as Partner or Service Provider [See 2009 - 2010 Schweikert Personal Financial Disclosure]

All of Swartz and Brough’s foreclosed home purchases in Arizona list David Schweikert’s home address, 15749 El Lago Blvd., as the mailing address. [See Trustee Deeds]

Schweikert’s foreclosure investment scheme then involves moving groups of foreclosed assets into different holding companies. These separate holding companies are set up to maximize tax advantages and attract investors.  [See Quit Claim Deeds, below]

VEIW SCHWEIKERTS FORECLOSURE INVESTMENTS

FORECLOSED ASSET TRANSFERS:

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