Hogarty ran the OF Lending real estate agency in Pleasanton, which is now closed.
Prosecutors say OF Lending promised distressed homeowners that for $2,000 their homes would be refinanced and they would get out from being under water.
The three suspects face up to 16 counts of grand theft, conspiracy, false advertising and illegally collecting advance fees.
Hogarty is already facing a separate trial for assault. James Torpey and Gregory Lomba have also been arrested.
Investigators are still looking for a fourth suspect named James Allen Rivera.