MIAMI (CBSMiami) — A South Florida man has been arrested for allegedly posing as a realtor and duping at least one person who lost tens of thousands of dollars.

The suspect is Ricardo Ribas who has been charged with one count of Grand Theft.

According to police, in January 2011, Ribas portrayed himself as a realtor who was selling several properties he bought at an auction.

Mr. Renan Rico purchased one of the homes for more than $25,000. Rico and his family moved into the home in May of 2011 even though Ribas told him the closing was still pending title issues.

Three months later, Rico began to receive foreclosure notices from Ocean Bank. The bank said it owned the property and the Ricos had to move out or be evicted. They had already spent an additional $20,000 upgrading the home.

In January 2012, the Rico’s moved out.

Detectives believe Ribas may have solicited other unsuspecting victims with the same house buying scheme. If you believe you have been victimized, contact Detective Ayme Sacramento of the Economics Crime Bureau at (305)994-1000.