San Diego Real Estate Fraud Ring Convicted
A real estate investment fraud ring was convicted in San Diego yesterday. The group, First Latino Group, defrauded investors of over 1 million dollars by promising to build low cost housing. These thieves targeted churches and religious groups with sales pitches filled with prayers and Bible passages. Then they would take down payments from the investors to build these low income homes in Vista.
There is a placed reserved in hell for folks like this.
Rolando Montez, 51, of Vista, who was described as the leader of First Latino Group, was found guilty of four criminal charges, including conspiracy to commit grand theft, conspiracy to obtain property by false pretenses and conspiracy to commit forgery.
AdvertisementTwo defendants, Franklin Ontiveros, 43, of Oceanside and Johnnie Mae Johnson, 57, of Vista, each were convicted of two conspiracy charges and acquitted of two others. A fourth defendant, North County resident Jacob Miller, 76, was convicted of one conspiracy charge.
San Diego Superior Court Judge Howard Shore allowed all four defendants to remain out of custody and set a sentencing hearing for April 20.
Montez faces the stiffest sentence and could be sent to prison for up to 12 years, prosecutors said. via SignOnSanDiego.com
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Comment by Tyson on 19 February 2007:
Real estate fraud is on the rise. Knowing the popular scams out there and knowing how to protect against this type of criminal activity is essential.
http://www.pinow.com/news/2007/02/16/real-estate-fraud-is-on-the-rise-protect-yourself/