The Region - News from June 9, 1985

Three men who allegedly made $1.2 million by selling undeveloped land in Antelope Valley and San Bernardino County have been indicted on mail fraud charges. Assistant U.S. Atty. Sharon McCaslin said that Sidney Binder of Newport Beach, Daniel Leffler of Mission Viejo and Harry Stone, formerly of Orange County, formed several companies that sold parcels to investors at prices two to six times the amount they paid for them. The indictment alleges that the men told investors they could easily resell the parcels in two years for twice what they paid or that the undeveloped parcels had streets, water lines and utilities. McCaslin said the companies the three men operated did not own some of the land they were selling, and in some cases there were previous liens on the land.