California Real Estate Fraud Report

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06
Jun

Sentencing Delayed in Hendrix Montecastro, Helen Pedrino Real Estate Investment Fraud

Hendrix Montecastro and his mother, Helen Pedrino, have caught a lucky break: their new attorney managed to get their sentencing reset for August 8.

Montecastro and Pedrino had represented themselves at the 86-day trial, in which prosecutors had accused him and the other defendants of fleecing victims out of a staggering $142 million. Similar to a Ponzi scheme, money was brought in by the defendants by holding seminars and setting up shell companies to take in money from the victims, who were located primarily in Riverside County and Palm Springs.

Mastermind James Duncan and Charles McLeod, pleaded guilty, and are already serving time in jail as they await their sentences, after agreeing to cooperate and testify against Montecastro and Pedrino, both of whom are sitting in jail.

 
Read the original article in the Press Enterprise. There are also numerous articles about this case on the California Real Estate Fraud Report.

© 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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