Mortgage Fraud Indictments

Mortgage and Lending with David Doerr Mortgage Team @ Axia Home Loans NMLS# 103555

It has been a long time coming, and finally the State of Utah and the Utah Mortgage Fraud Task Force along with the Federal Government has made indictments against:  Bradley Kitchen of Provo, David Bolick of Sandy, Steve Cloward of Orem, Ron Clarke of Provo, Jeffery David Garrett of Provo and Rebecca Ann Hadlock of Saratoga Springs. They were indicted on four counts of mail fraud, nine counts of wire fraud, one count of conspiracy to commit mail fraud.  Each count could carry a maximum sentence of up to 20 years in prison and $250,000 in fines.  The U.S. Attorney's Office seeks the forfeitsure of $7.5 million each from Kitchen, Bolick, Cloward and Clark; $6 million from Garrett and $4.5 million from Hadlock. Read the full story here.

I have personally know about the potential charges against Mr. Clarke for over a year.  I am somewhat of a "Real Estate" geek, and I always admired a few of the 'heavy hitters' in the area, Mr. Clarke being one fo them.  He sells a lot of high end homes, and I cannot understand the greed involved in the types of fraud he is allegedly involved with, and throwing everything away for a few dollars.  If true it is sad.



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Utah Utah County
utah mortgage fraud task force
bradley kitchen
david bolick
steve wells cloward
ron clarke
jeffery david garrett
rebecca hadlock

Post a Comment
Spam prevention
Spam prevention
Show All Comments

All these people are related.  It's an LDS thing, intermarrying, inbreeding, repopulating the many planets after leaving this one, ripping honest people off.  You can bet the family tree doesn't have too many branches on the Sleaeter one LDS to the core.

Apr 22, 2009 03:17 PM #102

America West Bank in Layton, UT. fails today surprise, surprise.  They were lenders involved in Rex's/Wade's schemes.  Looks like the FDIC (taxpayer) now pays for their idiotic decisons.  As Reverend Wright says, "the chickens have come home to roost."

May 01, 2009 04:04 PM #103

Any connection to the Koerber indictment?  Will these guys be next?

May 31, 2009 10:58 AM #104
Ockham Victim...aka Investor

New court documents are out wanting to consolidate all of Rex G. Wheeler's bankruptcy cases.  Some of the exhibits show the various business accounts under Rex's LLC shell game writing several checks to his (then) wife Jodi Wheeler.  Also, Rex was sending checks to Union Central, which is Rex's life insurance policy.  This is one method of harboring your money away from being seized.

The Ockham Group balance sheet shows a transaction with Garret Gundersen, further linking involvement. 

Some of the document findings:

'13. the books and records of the Debtors also contain significant evidence of commingling of Wheeler's personal expenditures with business expenditures of the Debtors. More than $158,000 was paid to Jodi Wheeler, Wheeler's ex-wife, more than $137,000 of which cam from Bedrock, Property Certain and Enlightened, much of which is accounted for in "Rex Wheeler Draws" (see Exhibit 5). Other payments include alimony and child support payments (8); dry cleaning, credit card payments, and car repair expenses.

14. Around the fourth quarter of 2007, payments on debts owed by Wade Sleater and Atlas Capital to Bedrock were deposited into the bank account of Rex Wheeler rather than Bedrock, with cas received by Wheeler related to the same totaling more than $468,000 (see Exhibit 6).  It appears Wheeler began receiving cash on several notes receivable of other Debtors into his account around the fourth quarter of 2007.....'

The documents further identify that cash flowed freely between Ochkam Group, Bedrock Marketing, Enlightened Management, Property Certain.

Also, the circular shell game of the Ockham Group sounds  like this:

Bedrock was doing business as Ockham Group, but there was also a seperate LLC call the Ockham Group, so checks written out loosly can be directed two, or more, ways.  Also, any bookkeeping softly referred to transactions as 'Ockham' allow for fund entanglement and their books being unable to account for their transactions.

I say to that....Bravo Mr. Wheeler!!!! I think you need to sell this game idea to Parker Brothers.  I am sure they will buy it.  It represents a real life game that is able to support "The Willing Suspension of Dis-Belief"...a criticial factor in selling a fantasy. Because there are real life people that have lost fortunes and credit worthiness, as well as emotional and administrative time dealing with this financial terrorism.  The only winner in this game is......? Well, great job Rex, maybe it was just your ex-wife and all the patronage of businesses that you and Wade blew other peoples money on.  Problem:  Whom should be dealt the "Go Directly to Jail" card???!!!

This is all very fascinating reading. This is under the US Bankruptcy Court Nos. 08-20300, 08-20308, 08-20305, 08-20303, 08-20307 in Salt Lake City.

Consolidation Hearing is July 1, 2009 at 1 PM.  Judge William T. Thurman Court.  U.S. Bankruptcy Court, 350 South Main St. Salt Lake City, UT.

Jun 03, 2009 04:15 AM #105

Good question: Will Rex go to jail over this? Personally I don't think so unless individuals who were harmed step up and take the 30 minutes to fill out the complaint form with the State of Utah Division of Securities. Unfortunately for whatever reason I don't think many people have which is a shame because what Rex did was absolutely undeniabley FRAUD!!

I too have read Rex's trustee's recommendation to consolidate his entities (Wheeler personally, Bedrock Marketing, Enlightenment Mgmt and Ockham Group) into one pool because in his words:

 "The financial affairs of Wheeler and each of the Debtor Entities are so entangled and comingled that a reconstruction of the accounting would be prohibitively expensive and probably not even possible". "

"checks were deposited into Bedrock's account. However, invested money was subsequently used or loaned out by any of the other Debtor Entities or by Wheeler individually"

"In addition, Bedrock transferred more than 4477,000 to Property Certain to cover operating cash shortfalls, make mortgage payments, pay legal fees, loans and other obligations. Finally, bedrock transferred more than $966,000 to Wheeler (including disbursements to his ex-wife Jodi Wheeler) for car repairs, a car purchase, cash payments, loan payments, and other personal expenses."

"In total, over $1 million was disbursed to Wheeler from the Debtor Entities, much of which was denominated as "draws", and some of which was used to pay personal expenses such as dry cleaning costs, credit card payments, alimony, and child support payments."

"The cash transfers between the Debtors appear to have included cash from investors, loans, and other sources."

"Several of the transfersbetween the Debtors appear to have been made in order to pay significant obligations of another Debtor entity."

"Around the fourth quarter of 2007, payments on debts owed by Wade Sleater and Atlas Capital to Bedrock were deposited into the bank account of Rex Wheeler rather than Bedrock, with cash received by Wheeler related to the same totalling more than $468,000 (see Exhibit 6). It appears Wheeler began receiving cash on several notes receivable of the Debtors into his personal account around the fourth quarter of 2007."

There are many, many more statements like this from the trustee handling Rex's bankruptcy and from the forensic accountant from Pricewaterhouse Coopers which was hired to review the books. These findings of the trustee and his expert consultants are conclusive evidence that Rex Wheeler was stealing investors money to pay for his personal expenses, purchases, etc. and are clear evidence of him running a ponzi scheme by the necessity to continuously borrow money from one Debtor Entity in order to pay investor interest and other obligations of another Debtor Entity.

This commingling/ponzi/fraud does not even touch on Rex's primary method of scheming investors by milling their equity from their homes, using someone else's good credit to buy the home and having the seller invest all of their equity with him in a hard money loan, just to pay them an abnormally high interest rate with other investors money/equity. If you are still questioning wether this was a ponzi scheme or not, think about this: Isn't it interesting that when the banks stopped lending high LTV's and started requiring verification of income/assetts, etc. and when the real estate values eroded and equity evaporated, Rex could not continue milling equity since it was gone. His main source of investors money was gone. He could not continue making the large interest payments to prior investors so he defaulted and ran quickly to file bankruptcy.

Rex wants everyone to believe that he was simply screwed by Wade and that he is also a victim. It is not true. Wade is a crook and did steal the approx. $5.5 million dollars that Rex gave him (investors money) but set that aside. His trustees findings clearly show he was using other investors money to pay other investors, oh, and also steal approx. $1 million for his own personal use. This was going on the entire time regardless of Wade.

There are many ,many honest people that have been crushed by this whole scheme including myself. We all made some basic investing mistakes but there is a major differnce between making a bad decision and commiting fraud. The biggest tradegy that could come out of this is if Rex Wheeler does not have to pay consequences for his crimes. I strongly urge anyone who is a victim of this ponzi scheme to contact the Utah Division of Securities and file a formal complaint. It can be done online at:

 Also you should contact the lead investigator in this case: Dianna Parrish (801)530-6600 or

They are looking for victims of Rex Wheeler and Wade Sleater. Don't let these guys get away without paying for their crimes.


Jun 09, 2009 07:05 AM #106

Who has an update on what is going on with Wade Sleater? When will he have his day in court? Wade Sleater is going down.

Jun 12, 2009 09:52 AM #107


Feel better? Your an IDIOT.

Jun 19, 2009 07:51 AM #108
interesting info

Go to and search "Wade Sleater bankruptcy judgement" You'll find recommended reading that states, if I understand it correctly,  that Wade was sued by the trustee of Bedrock and Enlightenment's bankruptcy and was ordered to pay over $11million.

Jul 03, 2009 05:00 AM #109

Too bad that means nothing once He files BK himself.

Jul 03, 2009 05:41 AM #110

I figured that would be the case. any criminal prosecution possible? Maybe tax evasion?

Jul 03, 2009 11:33 AM #111

What's is happening with Wade Sleater's businesses?

Sep 01, 2009 05:59 AM #112

Wade is a FUCKING Mormon crook.  He has no businesses and stole all of your money.  

Sep 04, 2009 04:12 AM #113

David -- It would be nice if you took a minute and updated everyone on the status of Wade Sleater and his other cronies.

Dec 15, 2009 07:07 AM #114

He's on Facebook, you should friend him.

Dec 15, 2009 01:54 PM #115

I hate wade sleater, pete maughan, matt bradshaw, and jason taylor. They have all screwed me out of almost $6000.  I will  never see any of this money.  Crooks. I will never join the church again. hippocrites

May 07, 2010 10:35 AM #116
Church Goer

Please don't base your testimony off of stupid people.  The church didn't do this.  These people did these things.

Jun 17, 2010 11:46 AM #117
Jack Donahoo

If anyone would like more info about Dean Casutt, please go to:


Sep 21, 2010 12:06 PM #118

Any updates on Wade Sleater, bankruptcy, fraud charges, etc.?

Jun 28, 2011 05:14 AM #119

A friend of theirs.  

Sep 30, 2011 06:07 PM #120

I'm looking for anyone who has had business dealings with Heather Hamilton from Provo Utah area.


Please email me your story at

Nov 16, 2011 06:45 AM #121
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


David Doerr

14 Year Mortgage Professional
Ask me a question
Spam prevention

Additional Information