Deputies say man defrauded Ypsilanti Township residents out of $700,000

A man is accused of defrauding Ypsilanti Township residents out of $700,000 in a real estate scheme and then seeking federal bankruptcy protection to avoid paying them back, Washtenaw County sheriff's deputies said.

Robert George, 52, was arraigned Tuesday on charges including obtaining money under false pretenses in excess of $20,000, larceny by conversion and fraudulent use of building contract funds.

Total losses, including those sustained by the banks, is estimated at $20 million, police said.

George was arrested on a 25-count felony warrant and has been released on a $50,000 personal recognizance bond.

George is accused of recruiting people to purchase units for real estate developments, including Crystal Pond Condominiums in Ypsilanti Township.

Deputies say he sold units to a number of people and kept their deposits and other payments for personal use, a sheriff's department news release said. The project was never completed, and some of the victims lost their life savings, deputies said.

Deputies also say George misrepresented the number of buyers he had recruited so he could borrow millions from banks in Washtenaw and Monroe counties.

Deputies have been investigating the alleged scheme since 2005. George is scheduled to return to court Dec. 16.

Lee Higgins covers crime and courts for AnnArbor.com. Reach him at (734) 623-2527 or email at leehiggins@annarbor.com.