Prosecutor in OH indict four on Mortgage Fraud

Prosecutors in Ohio have indicted four individuals in regard to Mortgage and Wire fraud. The case involves four multi-million dollar homes and alleges that the individuals involved in the conspiracy used straw buyers to defraud lending institutions.

Charges were brought against Eric Duke, owner of Riversdale Property Management Group, Tax Advisor and interior designer; Terrence Monahan Jr., Vice President of Executive Capital Management (formerly Huntington National Bank); Bernard Kurlemann, Owner of Kurlemann Homes and Long Cove Management and Bryan Sannerman, Owner of Sannerman Homes, Inc.

The indictment against Mr. Duke, Mr. Monahan, Mr. Kurlemann and Mr. Sannerman stem from a two year long investigation that involve four properties purchase between May of 2006 and August of 2007. The properties are alleged to have been purchased by straw buyers who used fraudulent income and asset information on mortgage applications to purchase the properties involved.

The group was arraigned on Friday, January 29th in District court. All four men involved have entered a plea of not guilty to the charges against them. The group was release on their own recognizance until trail dates can be set.

The properties involved in the alleged conspiracy include 298 Southwind, 8662 Hampton Bay Place, 8670 Hampton Bay Place and 8657 Emerald Isle. The properties have been are located in the Longcove Development which has been on the Homearama Home Showcase for the past several years.