6:46AM

4 indicted in Northern Ohio mortgage fraud allegations

In the following press release Steven M. Dettelbach, United States Attorney for the Northern District of Ohio announced that an indictment has been filed against David R. Sharrock, Richard W. Balliett, Rhonda J. McElroy, and Ronald L. Kightlinger charging them with multiple counts of bank and wire fraud 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, and Suntrust Mortgage, Inc.

Sharrock is also charged with making false statements to the FBI relative to the scheme.

David R. Sharrock, age 69, currently resides in Mansfield, Ohio. Richard W. Balliet, age 44, currently resides in Bucyrus, Ohio. Rhonda J. McElroy, age 49, currently resides in Bellville, Ohio. Ronald L Kightlinger, age 51, currently resides in Crestline, Ohio.

The indictment alleges that Sharrock, Balliett, and McElroy (“the sellers”) sold homes in the cities of Mansfied, 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. [Editor note - more details have been taken from the indictment and listed below this press release].

The indictment also alleges that Ronald L. Kightlinger acted as a straw buyer in purchasing a commercial building from David R. Sharrock in Mansfield, Ohio. Sharrock subsequently lied to FBI agents relative to whether he provided down payment assistance in the scheme.

If convicted, the defendants’ sentences will be determined by the Court after review of factors unique to this case, including the defendants’ prior criminal records, if any, the defendants’ roles in the offense and the characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

This case is being prosecuted by Assistant United States Attorney Vasile C. Katsaros, following an investigation by the Federal Bureau of Investigation.

An indictment is only a charge and is not evidence of guilt. The defendants are entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.

Editor Note - According to the Indictment:

  • David Sharrock is the owner of D.R.L Properties Trust LLC, Herman Trust Properties and D & D Rentals which between them managed hundreds of investment properties in Northern Ohio.
  • Richard Balliett oversaw the day to day operations of Homes Central, Inc which also owned and managed investment properties
  • Rhonda McElroy is the daughter of Sharrock and worked at D & D Rentals. She allegedly sold multiple properties to the borrower G.S.
  • Kightlinger purchased Sharrock’s property at 34-38 West 4th St, Mansfield, OH.

The following properties are mentioned in the indictment

  1. 71 Greenwood Ave, Mansfield, OH
  2. 76 Greenwood Ave, Mansfield
  3. 21 Greenwood Ave, Mansfield
  4. 44 Raleigh Ave, Mansfield
  5. 565 Arnold Ave, Mansfield
  6. 385 Home Ave, Mansfield
  7. 284 Remy Ave, Mansfield
  8. 144 Columbia, Mansfield
  9. 398 Home Ave, Mansfield
  10. 542 Gruber, Mansfield
  11. 28 Blanche St, Mansfield
  12. 338 High St, Mansfield
  13. 53 State st, Mansfield
  14. 219 LaSalle St, Mansfield
  15. 190 Hillside Circle, Mansfield
  16. 174 Arthur Ave, Mansfield
  17. 216 Blymyer Ave, Mansfield
  18. 252 John Ave, Mansfield
  19. 34-38 W 4th St, Mansfield
  20. 208 Blaine Ave, Marion, OH
  21. 335 Edgewood Dr, Marion
  22. 576 Herman St, Marion
  23. 364 Chester St, Marion
  24. 185 Latourette, Marion
  25. 738 Gill Ave, Marion
  26. 306 Patten St, Marion
  27. 190 Glad St, Marion
  28. 287 Cass Ave, Marion
  29. 168 Nye St, Marion
  30. 207 Carhart St, Marion
  31. 458 Scranton Ave, Marion
  32. 431 Vine St, Marion
  33. 236 N Grand Ave, Marion
  34. 32 Trux St, Plymouth, OH
  35. 130 South Riblet St, Galion, OH
  36. 15 Summit St, Shelby, OH
  37. 703 S Poplar St, Bucyrus, OH

PrintView Printer Friendly Version

EmailEmail Article to Friend