Monday, June 05, 2006
“Kingpin” in Ohio Mortgage Fraud Pleads Guilty to Money Laundering
Ronald A. Waker, 42, Centerville, Ohio plead guilty to money laundering in connection with a mortgage fraud scheme that involved approximately 148 mortgage loans totaling over $9M on properties located in Ohio and elsewhere.
‘Waker took part in approximately 148 separate fraudulent real estate closings between July 1999 and December 2001,’ United States Attorney for the Southern District of Ohio Gregory G. Lockhart said. ’Such actions eat away at the foundation of our community’s housing market and the neighborhoods involved.’ Lockhart noted that the gross fraudulent loan amounts associated with these closings amounted to approximately $9,378,880.
According to a statement of facts filed with his plea, Waker and others prepared and submitted mortgage loan applications containing false and fraudulent documents including bank statements, deposit slips, property appraisal reports and other documents.
Waker’s role including selling various residential properties located in or near Dayton, Ohio under the name of purchasers who were not the real buyers and providing down payment money to fraudulently secure mortgage loans.
Waker faces up to 20 years imprisonment and a fine of $500,000 or twice the value of the property involved, which ever is greater.
According to the indictment, between July 14, 1999 and December 31, 2001, Waker utilized straw buyers to purchase properties at a price near or below fair market value, sold the properties at high prices to end buyers who wanted to own rental property and reaped the bulk of the profits on the sale. The loans for the end buyers were obtained using false pretenses and the loan applications and supporting documents, including W-2’s, bank statements, verifications of employment, verifications of deposit and property appraisals, contained false information.
Properties referenced in the indictment include:
2045 Courtland Avenue, Dayton, Ohio
640 Taylor Street, Dayton, Ohio
53 Eat Helena Street, Dayton, Ohio
325 Quitman, Dayton, Ohio
3815 Indian Ripple Road, Beavercreek, Ohio
Waker is scheduled to be sentenced on August 31, 2006.
mortgage fraud
This post gave me hope. He was truely a kingpin! I met him many times, he was a real jerk. Very angry, very violent. He was a very big player, and this list of propeties is only a small amount of what he has done. I did a couple of appraisals before the pressure started, before the angry yelling, before the violent threats, etc. I hope he finds a special friend in prison to keep him company for the rest of his life, and I dont’ me the good lord.
Posted by on 07/05 at 08:57 PM
cincinnati.fbi.gov/doj/pressrel/2006/ci060206.htm
Posted by on 07/05 at 09:00 PM
Other questions concern is the people.
Interesting to read all this.
Every variety has the right to life.
Posted by on 01/02 at 01:14 PM
they finally put the crook in jail.
Posted by on 06/03 at 12:32 PM
it more crook then him they need to check all the people in his group and the housing authority that help him steal
Posted by on 06/12 at 03:26 AM
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Some Sources require Registration.
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Juan Carlos Alcala of Windsor pleaded no contest to nineteen felony counts and admitted three special allegations for defrauding real estate investors, money laundering and elder fraud.
Bedford Woman Sentenced to a Year in Prison for Mortgage Fraud
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Sharon Cox, 49, of Bedford, was sentenced today to a year in prison for mortgage fraud involving money laundering, theft and receiving stolen property from August 2008 through March.
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According to the FBI, Virginia, Maryland and the District are among the top 10 jurisdictions experiencing mortgage fraud.
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
More Trial Coverage
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
