By CHRIS BAGLEY – Staff Writer | Monday, July 28, 2008 7:02 PM PDT
RIVERSIDE —- An alleged real estate fraud involving at least 120 houses should come to trial by next summer, a federal judge indicated Monday in scheduling a series of deadlines for one of the court cases.
The U.S. Securities and Exchange Commission alleges that James Duncan, Hendrix Montecastro and Maurice McLeod offered investments, including single-family tract homes, fraudulently and without holding the necessary licenses. The agency’s lawsuit, filed in February, demands that they repay a yet-unspecified …
Note this is an SEC civil action, not a criminal prosecution.
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