A Florida man facing multiple charges after he allegedly staged a pair of house fires and claimed they were racially-motivated attacks when he fell behind on home payments.

George Carneiro was arrested in connection with the March 13 blazes that caused “extensive property damage” at two newly-built, vacant homes he owned in Clay Hill, the Clay County Sheriff’s Office announced on Tuesday.

The incidents were initially investigated as hate crimes after deputies found signs with swastikas and emblazoned with the words “Latinos are not welcome” at the scene, WTLV reported.

Officials now believe that Carneiro staged the fires after bank records indicated that he was significantly behind on payments for both properties, the sheriff’s office statement read.

The investigation found video evidence of one of Carneiro’s employees purchasing fuel tanks with cash at Walmart the day before the fires. Carneiro’s phone records also tied him to the homes at the time of the fires.

Carneiro is charged with burning to defraud the insurer and false and fraudulent insurance claims related to arson.

“I want to thank the patrol deputies who originally responded to these calls and the detectives who worked tirelessly to solve these crimes. Without their efforts, we would not have been able to make this arrest,” Sheriff Michelle Cook stated.

“I have zero tolerance for anyone who comes into our community and uses hate as a cover for their own schemes. We are fortunate that incidents like this are extremely rare in Clay County, and I appreciate the community members who came forward with information on the case.”