A Mansfield man was found guilty of more than two dozen charges in connection with a mortgage fraud scheme which caused approximately $1.3 million in losses to Geauga Savings Bank, J.P. Morgan Chase Bank, Washington Mutual Bank, Interbay Funding LLC, and Suntrust Mortgage Inc, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.

David R. Sharrock, age 71, pleaded no contest to 26 counts, including conspiracy, bank fraud, wire fraud, bankruptcy fraud, and making false statements.

His daughter, Rhonda J. McElroy, 51, of Bellville, Ohio, also was found guilty for her her role in the conspiracy.

Defendants Ronald L Kightlinger, 51, of Crestline, Ohio, and Richard W. Balliett, 45, of Bucyrus, Ohio, previously pleaded guilty to crimes related to their roles.

Sharrock, Balliett, and McElroy sold homes in the cities of Mansfield, Marion, Galion, Plymouth, Shelby, and Bucyrus, Ohio.

The sellers made fraudulent misrepresentations to the mortgage lenders by providing undisclosed down payment assistance to the buyers and by submitting fictitious purchase agreements and verifications of deposits. As a result, the sellers signed false settlement statements at closing, according to court documents.

Kightlinger acted as a straw buyer in purchasing a commercial building from David R. Sharrock in Mansfield, according to court documents.

source: FBI

http://www.fbi.gov/cleveland/press-releases/2013/mansfield-man-found-guilty-in-mortgage-fraud-scheme?utm_campaign=email-Immediate&utm_medium=email&utm_source=fbi-in-the-news&utm_content=255650

This case is being prosecuted by Assistant United States Attorneys Vasile C. Katsaros and M. Kendra Klump, following an investigation by the Mansfield Resident Agency of the Federal Bureau of Investigation.