SAN DIEGO -- Stephen Benaske was the subject of an exclusive I-Team investigation in July.

At that time, he told the I-Team he ran a clean operation with no problems at all.

But the I-team learned Benaske has just been arrested, accused of criminal conspiracy and the theft of $15,000 or more.

The I-Team's investigation began when a tip was received that said the mortgage broker was creating a Web site to sell his services to San Diegans.

Benaske was offering to use his expertise to negoiate with lenders on behalf of homeowners. The I-Team learned that he had come to San Diego from Denver.

While in Colorado, sources told the I-Team that Benakse and his girlfriend had received $81,000 from a client for a transaction that the pair were supposed to handle.

Instead, the I-Team learned Benaske had taken a chunk of the funds and allegeldy blew it on partying. Some of the alleged spending was on a trip to Mexico, limo service, fine dining, and other items.

So when Benaske began setting up shop in San Diego, the I-Team tracked him, and learned the the Department of Real Estate in Colorado had launched an investigation into his activities.

I-Team reporter Kerstin Lindquist confronted Benaske, wanting to know about his history and his plans for the San Diego business.

He said he had a clean record and the business he was building was legitimate, required no licensing as he was working through other brokers based in California.

Shortly after the I-Team's first story, Benaske moved back to Colorado.

On Friday, the I-Team learned he was arrested for his involvement in the $81,000 deal. The status of his girlfriend is unknown at this time.