(Miami-Dade County, FL) -- 

The Miami-Dade Police Department's, Economic Crimes Bureau detectives continue to investigate a possible Organized Scheme to Defraud case that lead to the arrest of Ricardo Antonio Ribas.  According to detectives, in January of 2011, Ribas portrayed himself as a realtor who bought several properties at an auction and now were for sale.  Mr. Renan Rico, victim, purchased one of his homes and paid Ribas a total of $25,115.88 in deposits and fees.  In May of 2011, Ribas advised Mr. Rico that he was able to move into the home although the closing was still pending title issues.  Approximately 3 months after Mr. Rico moved in with his family, he began to receive foreclosure notices from a bank.  Mr. Rico then contacted the bank and he was advised that the residence was in foreclosure and the property was owned by the bank. In order to avoid the eviction process, the bank advised Mr. Rico that he and his family had to move out. In January of 2012, Mr. Rico and his family moved out of the residence after spending an additional $20,000.00 upgrading the residence.