California Real Estate Fraud Report

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27
Jul

Montecastro Mortgage Fraud Case Delayed

The $142 million mortgage fraud and securities fraud trial for Hendrix Montecastro and his mother Helen Pedrino have been moved to October 9.

Hendrix Montecastro and Helen Pedrino were arrested in 2009 on charges they were part of a real estate investment fraud conspiracy headed by James Duncan. The real outcome was that many investors lost their savings, retirement accounts and even their homes as a result of alleged false promises to earn large returns.

James Duncan and defendants Maurice McLeod, Charlie Sung Choi, Thuan Nhan Du and Cindi Gayle Kelly have already pleaded guilty.

Read the original article in the Press Enterprise. There are also several earlier postings on Hendrix Montecastro and Helen Pedrino in the California Real Estate Fraud Report. Use the Search feature on the left side of this blog to find those articles.

This entry was posted on Friday, July 27th, 2012 at 9:06 am and is filed under Mortgage Fraud, Real Estate Crimes, Real Estate Fraud, Real Estate Investment Fraud, Securities Fraud. Responses are currently closed, but you can trackback from your own site.

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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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