Tracy Smith, the former Turlock resident who was convicted of burning down the Red Steer and implicated in a multitude of shady business and investment dealings, has been indicted for allegedly running a fraudulent real estate investment scheme in various parts of the state.
Smith is accused of scamming more than $1.3 million from seven victims, according to the California Attorney General's Office.
A 13-month investigation into Smith's activities and his business, Downkicker Inc., resulted in a special statewide criminal grand jury indictment for Smith on 38 counts, including one count of operating a fraudulent securities scheme, 19 counts of securities fraud, 17 counts of grand theft and one count of elder abuse. He was arraigned Monday in San Diego County Superior Court. The alleged crimes took place in the counties of San Diego, Riverside, San Francisco and Santa Clara between August 2017 to September 2018.
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