Jury convicts Warren Co. man for fraud

DAYTON, Ohio (WDTN) - A former Waynesville, Ohio man was convicted March 15, 2010 by a federal jury for his role in a mortgage fraud scheme that netted more than $7.9 million.

Gregory S. Chew, 42, was convicted of conspiring with a co-defendant, Richard C. Confer Jr., 42 of West Carrollton, in a scheme to fraudulently obtain more than $17 million in mortgage loans from more than 39 victimized mortgage lending institutions.

According to prosecutors, Chew approached Confer, a mortgage broker with Aleva Mortgage Company, in January, 2003 and agreed to collaborate with him in extensive real estate investments. Evidence showed that the pair continued a business relationship for another six years, preparing numerous false, fictitious and forged mortgage loan applications and HUD-1 settlement statements to secure fraudulent loans.

Chew deposited over $2.2 million of disbursement checks from various title agencies in his own personal accounts. Chew used the money to pay his co-conspirators, fund fraudulent down-payment checks, and for his own personal gain including the purchase of several vehicles.

The jury convicted Chew of one count of money laundering, one count of conspiracy to launder money, and three counts each of mail fraud and wire fraud. Chew’s conviction carries possible prison sentences of up to 30 years for wire fraud and mail fraud, 20 years for conspiracy, and 10 years for money laundering.

Confer pleaded guilty on February 19, 2010 to one count of conspiracy to commit money laundering for his role in the scheme. He faces a sentence of up to 20 years imprisonment, a fine $500 thousand or twice the value of the property involved, whichever is greater, and three years of supervised release. Confer is scheduled to be sentenced on May 20, 2010 by Judge Rose.

The scheme involved 57 property investors and 246 residential properties located throughout the greater Dayton area.