Federal Lawsuit Alleges Racketeering Conspiracy

Two Rialto residents have filed suit last week in a Riverside County, California Federal Court claiming that they have been defrauded of over $600,000 by an alleged racketeering conspiracy that is said to have cheated over 700 investors in multiple states, according to an article in The Press Enterprise, reported at PE.com.

The men who have been named as defendants in the suit include James Duncan, Maurice McLeod and Hendrix Montecastro, who are also defendants in a Riverside County Superior Court for their alleged roles in a related mortgage fraud scam affecting hundreds of Filipino investors in southwest Riverside County.

Temecula attorney Richard Ackerman represents the plaintiffs in both Riverside lawsuits, who said that, as of Monday, he had identified 867 victims.

For the whole story, see:

Investors file federal fraud lawsuit
(HUNDREDS AFFECTED: Two Rialto residents say they sustained losses of more than $600,000)

For earlier reports regarding the state court lawsuit, see these reports in The Californian / North County Times:

• Suit alleges massive mortgage scam
• Real-estate investors bought on faith
  .