Keith Steven Raybon was charged in a 14-count indictment for his alleged involvement in a fraudulent loan scheme designed to secure “refinance” loans for unqualified buyers of mobile homes and lots sold by the Emerson Manufactured Homes. Raybon, along with codefendants Particia Lennon, Hollys Heasley, Jeannie Nelson, and Heather Adams, filed a Motion to Dismiss Counts 2 through 12 of the Indictment based on the statute of limitations. As previously reported by Mortgage Fraud Blog, Raybon was charged in count one of the 14-count Indictment with conspiracy to commit mortgage fraud. In Counts 2-12, the Defendants are charged with wire fraud in which the alleged fraud occurred prior to May 10, 2002. Defendants are charged in Counts 13-14 with wire fraud in which the alleged fraud occurred after May 10, 2002.

Raybon argued in his Motion to Dismiss that Counts 2-12 of the Indictment were barred by the five-year statute of limitations for wire fraud set forth in the general limitations statute, 18 U.S.C. § 3282(a). The wire fraud allegations in Counts 2-12, however, include the allegation that the wire fraud affected a financial institution. Consequently, the statute of limitations for Counts 2-12 is ten years, not five years. See 18 U.S.C. § 3293(2). The Indictment was returned within that limitations period and, as a result, the Court ordered that the defendants' Motion to Dismiss be denied.