William A. Turner, 46, Dayton, Ohio, pleaded guilty in U.S. District Court to one count of conspiracy to commit money laundering as part of his role in a $5.6 million mortgage fraud scheme.
According to court documents, Turner conspired with others in 2007 to carry out the mortgage fraud scheme. Turner formerly operated businesses known as First Assurance Title Agency, Evolution Title Agency, and Marquis Title Company. In 2007 and 2008, Turner knowingly closed three fraudulent mortgage loans totaling approximately $200,000.
As part of the conspiracy, Turner and others prepared on behalf of prospective purchasers of Dayton, Ohio residential properties, and other areas, certain mortgage loan application packages to various lending institutions located throughout the United States which contained false, fictitious, forged and fraudulent documents including: agreements to sell real estate, Forms 1003, Forms HUD-1, bank statements, bank deposit slips, bank withdrawal slips, residential property appraisal reports, copies of down payment checks and other related miscellaneous correspondence and memoranda.
Turner also agreed to a forfeiture money judgment in the amount of $3,200,000, which represents the amount of the property involved in the offense.
The maximum sentence Turner could face is 20 years’ imprisonment, a fine of the greater of the two following amounts: $500,000 or twice the value of the property involved in the subject transaction. Judge Rose will set a date for sentencing.
Carter M. Stewart, United States Attorney for the Southern District of Ohio; Darryl Williams, Special Agent in Charge, Internal Revenue Service Criminal Investigation (IRS); Edward J. Hanko, Special Agent in Charge, Federal Bureau of Investigation (FBI); Ohio Attorney General Mike DeWine, and other members of the Greater Dayton Mortgage Fraud Task Force announced the plea entered before U.S. District Judge Thomas M. Rose.
Stewart commended the joint investigation by the members of the Greater Dayton Mortgage Fraud Task Force and Assistant U.S. Attorney Dwight Keller, who prosecuted the case. Agencies participating in the Greater Dayton Mortgage Fraud Task in addition to the FBI and IRS Criminal Investigation Division include the Ohio Department of Commerce Division of Financial Institutions, and the Ohio Attorney General’s Office.