Ronald Cedric Touchard, 59, Newport Beach, California and Misty Denise Touchard, 43, Newport Beach, California were charged today with stealing over $5.9 million in a real estate fraud scheme and laundering money to purchase a luxury car and invest in a winery.
Between June 13, 2016, and July 1, 2016, Ronald Touchard is accused of taking over the titles of three residences in the city of Newport Beach, California he did not own or have claims to by submitting paperwork to the State of Delaware indicating he was the sole officer of Capital Win Corporation and Gainquick LLC (CWCG), an investment company based in Laguna Beach, California.
Ronald Touchard is accused of convincing “hard” money lenders that as the president of CWCG, he held the deed of trust for each residence although he did not. Mr. Touchard is further accused of taking $5.9 million in equity out of the three residences for his and his wife’s financial benefit.
Ronald and Misty Touchard are accused of using the stolen funds to make numerous large purchases including a Land Rover, and moving the money between various bank accounts in a pattern consistent with money laundering.
Ronald was charged with the following felony counts, (54) Money laundering; (3) Grand theft; (3) Recording false or forged instrument and faces a maximum sentence of 55 years and four months in state prison. His arraignment is set for May 24, 2018, 10:00 a.m. at Department CJ-1, Central Jail, Santa Ana.
Misty was charges with the following felony counts, (13) Money laundering; (3) Grand theft and faces a maximum sentence of 24 years and eight months in state prison. Her arraignment is set for May 24, 2018, 10:00 a.m. at Department CJ-1, Central Jail, Santa Ana.
The Orange County District Attorney’s Office investigated this case and arrested the defendants today with the assistance of Newport Beach Police Department.