Ex-president of Paso's Heritage Lending to stand trial in August

ppemberton@thetribunenews.comAugust 6, 2013 

Candy Lee Wells, 58, was arrested Tuesday, March 12, 2013, in Southern California on suspicion of grand theft and fraud. Original story »

A Paso Robles woman charged with fraud in a “hard money” lending case is set for trial Aug. 27. Meanwhile, her husband’s sentencing, initially set for this month, has been postponed.

Candy Lee Wells, 59, briefly appeared in court for a pretrial hearing Tuesday, when her trial was confirmed for Aug. 27. She and her husband, Ronald Ricky Wells, 63, were arrested in Southern California in March after a three-year investigation by the California Department of Corporations.

The couple, who owned the now-bankrupt Heritage Lending, offered hard money loans and investments, which investigators said were fraudulent, in real estate projects.

The two were charged with six felonies.

Ronald Wells pleaded no contest in June to being an accessory after the fact to charges of securities fraud and embezzlement. He is expected to received five years of felony probation and three months in jail, which he has already served. His new sentencing date has not been set.

While Ronald Wells is currently out on a $40,000 bail bond, his wife remains in custody in lieu of $1 million bail.

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