San Bernardino County predatory lending defendants in court Tuesday
The alleged ringleader and four other defendants charged in a statewide predatory lending scheme are scheduled to appear Tuesday in San Bernardino Superior Court to confirm whether a preliminary hearing will be conducted two days later.
At a preliminary hearing, prosecutors will present testimony and evidence to the court to support the charges that have been filed against 26-year-old Eric Michael Pony, his sister Paulette Pony, 24, both of Tarzana, and two others. A judge will then decide whether sufficient evidence exists to hold the defendants over for trial.
The preliminary hearing is currently set for Thursday in San Bernardino Superior Court.
At a March press conference, District Attorney Michael A. Ramos described the statewide case, with its seven local defendants, as "the worst of the worst of the predatory lenders" when he announced the filing of a 47-count criminal complaint.
The investigation revealed there could be hundreds of other homeowners who had fallen victim to a bait-and-switch scheme by operators of Tarzana-based Lifetime Financial, of which Eric Pony was formerly president.
The other defendants awaiting a preliminary hearing are Eli Hassine, 25, of Sherman Oaks, and Jacob Shawn Franco, 46, of Encino. San Bernardino County prosecutors filed charges of conspiracy, grand theft, forgery and elder abuse.
The seven local victims are from San Bernardino, Upland, Fontana, Victorville and Hesperia, authorities said. The county's case is related to a larger statewide civil case pursued by the state Attorney General's Office, state officials said.
The alleged criminal activities occurred from May 2006 to May 2007. Telemarketers sought out victims by promising them unrealistically low mortgage payments, fixed-interest rates, nominal appraisals and cashouts, authorities said.
Defendants Carol Binnie Pencille, 58, of Granada HIlls, and Sibpun Ampornpet, 32, of North Hollywood, have taken plea bargains and are scheduled for sentencing on Oct. 3. Charges were later dropped against a seventh man, Jason Imperial Burbidge, 35, of West Hills.
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