13 Charged in Ohio Mortgage Fraud Probe

admin —  May 4, 2010 — Leave a comment

Kimberly Wilson, 37, Shaker Heights, Ohio, Michael Boyce, 46, Cleveland, Ohio, Beyond Wynn, 36, Shaker Heights, Ohio, Darlena Rogers, 44, South Euclid, Ohio, Drummell Coffey, 39, Cleveland, Ohio, Lawrence Calloway, 67, Cleveland, Ohio, Gerald Ford, 39, Euclid, Ohio, Nafessah Walker, 35, Warrensville Heights, Ohio, Travis Haynes, 39, Cleveland, Ohio, Antoinece Robin Boyd, 39, Cleveland, Ohio, Lavon Runderson, 40, Cleveland, Ohio, Wesley D. Rahmon, 41, Beachwood, Ohio and Robert M. Wilkes, Jr., 41, Cleveland, Ohio, have been charged in a mortgage fraud scheme involving twenty-eight properties throughout the Cleveland, Ohio area and over $3.25 million in mortgage loans. The indictment charges one count of conspiracy to commit wire fraud, and twenty-four counts of wire fraud..

The indictment alleges that from June 2005 through January 2007, all 13 defendants conspired to fraudulently purchase twenty-eight properties in the Cleveland area, securing over $3.25 million in mortgage loans. The indictment further alleges that as part of the conspiracy, Defendant Kimberly Wilson, a loan officer for Park Mortgage, completed and submitted fraudulent loan applications in the names of straw buyers (individuals who applied for mortgage loans on a property, but never intend to live in the home). The straw buyers included Defendants Drummell Coffey, Lawrence Calloway, Gerald Ford, Nafessah Walker and Travis Haynes, whose employment, income and assets were falsified in almost every loan application and who concealed the source of the down-payment funds in order to obtain the financing to purchase the twenty-eight properties. The indictment alleges that Defendant Antoinece Robin Boyd assisted in the scheme by falsely verifying employment for Defendants Drummell Coffey and Nafessah Walker through her tax preparing company, Boyd Management, in order for them to qualify for mortgage loans.

The indictment further alleges that Defendants Lavon Ruderson, Wesley D. Rahmon and Robert M. Wilkes, Jr. appraised the properties for a value in excess of the true market value of the properties allowing Wilson, through her companies, Suburban Home Care and Landscaping, LLC and Dakaliote, LLC, to fraudulently profit by obtaining the excess funds from the mortgage loans for her personal use, and the use of other defendants, such as the straw buyers. Wilson induced the straw buyers to participate by promising they could purchase the properties with no money down and the straw buyers could receive cash back at closing. The indictment also alleges that Defendants Beyond Wynn, Darlena Rogers and Michael Boyce, sellers of twelve of the properties, were aware of, and profited from, the sale of their properties to the straw buyers at the inflated values. The defendants’ fraudulent conduct induced Long Beach Mortgage Company, Argent Mortgage Company, LLC, New Century Mortgage Company, WMC Mortgage Company and Aegis Mortgage Company to fund the mortgage loans. The victim companies suffered a total loss of approximately $1,942,971 as a result of defendants’ scheme.

If convicted, the defendants’ sentences will be determined by the Court after review of factors unique to this case, including the defendants’ prior criminal records, if any, each defendants’ role in the offense, and the characteristics of the violation. In all cases the sentences will not exceed the statutory maximum and in most cases they will be less than the maximum.

United States Attorney Steven M. Dettelbach stated, “mortgage fraud is one of the top priorities of this office because of the far reaching and devastating economic impact on our community. We are focusing a significant portion of the office’s resources, along with our law enforcement partners, to find and prosecute the perpetrators of mortgage fraud in Northeast Ohio with a goal of eliminating it.”

This case is being prosecuted by Assistant United States Attorney Mark S. Bennett, following an investigation by the Cleveland Division of the Federal Bureau of Investigation.

An indictment is only a charge and is not evidence of guilt. Defendants are entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.

Be Sociable, Share!


Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>