California Real Estate Fraud Report

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02
Feb

Riverside Men Plead Guilty in $150 Million Mortgage Fraud

James Benjamin Duncan, 40, and Maurice Emil McLeod, 38, have pleaded guilty to to marketing fraudulent securities in a massive mortgage fraud scheme that the Riverside District Attorney said was a major factor in the losses to value in real estate in Corona, Lake Elsinore, La Quinta, Murrieta, Palm Desert and Riverside.

Five other defendants have been charged and are awaiting trial: Charlie Sung Muk Choi, 35, Thuan Nhan Du, 34, Cindi Gayle Kelly, 34, Hendrix Moreno Montecastro, 38, and Montecastro’s mother, Helen Moreno Pedrino, 59.

The alleged crimes by the defendants include securities fraud, grand theft, identity theft and elder financial abuse. Prosecutors believe that the total victms may be in the hundreds.

Read the full article in the Southwest Riverside News Network.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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