SEC Investigating Alleged $100 Million Mortgage Fraud

The alleged mortgage fraud scam that reportedly occurred in Murrietta, California and the surrounding area and that is the subject of a number of civil lawsuits is now the subject of an investigation by the Securities Exchange Commission, according to media reports. Reportedly, evidence obtained by the plaintiffs in the civil lawsuits is being shared with the SEC by plaintiffs attorney Richard Ackerman. Those individuals who are of interest to the SEC and the plaintiffs in the civil lawsuits are:

• James Duncan, Maurice McLeod, Chris Oetting, companies linked to Steve Kayden and Dennis Dewitt Jr., Hendrix Montecastro and his Murrieta mortgage brokerage, Stonewood Consulting Inc.

The alleged scam reportedly left unwitting investors with close to $100 million in mortgage debt. For more see:

Feds probing investment ring (North County Times)

SEC investigating alleged Inland scam (The Press Enterprise)

Go here for other posts on this alleged mortgage fraud.