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Home > Blogs > Dayton Courts: Legal and crime news > Archives > 2009 > April > 29 > Entry
Waynesville man indicted in alleged mortgage scheme
DAYTON — A Waynesville man accused of running a mortgage fraud scheme was indicted Wednesday, April 29, on federal charges, including a single count of money laundering.
The grand jury also indicted Gregory S. Chew, 41, on 24 counts of illegally structuring currency transactions.
Chew, who did business under the names RB, Inc. and Raging Bull Enterprises, recruited investors to buy and sell real estate in the Dayton area using inflated property appraisals and false promises, according to court documents.
As part of the scheme, lenders were given fraudulent financial information. After Chew obtained mortgages at inflated property values, the money was put to personal use. The indictment alleges that Chew deposited proceeds from fraudulent mortgage loans into his own bank accounts between March 25, 2005 and December 4, 2007.
Count one of the indictment alleges that Chew laundered the proceeds from the unlawful criminal activity by purchasing items for his own personal use. Counts two through 25 allege that Chew structured $213,630.02 in 24 separate deposits into his bank accounts by breaking large deposits into smaller ones in an effort to evade IRS cash transaction reporting requirements.
The indictment seeks forfeiture of a $26,000 motorcycle Chew purchased with proceeds of the crime, and a money judgment in the amount of the structured deposits.
Gregory G. Lockhart, United States Attorney for the Southern District of Ohio, commended the joint investigation by the members of the Greater Dayton Mortgage Fraud Task Force, including the FBI, the IRS, the Ohio Department of Commerce Division of Financial Institutions, the Ohio Attorney General’s Office, the U.S. Postal Inspection Service, the U.S. Department of Housing and Urban Development Office of Inspector General, the Federal Deposit Insurance Corporation Office of Inspector General, and the Perry Township Police Department.
Comments
By Pete
April 29, 2009 2:55 PM | Link to this
Chew is one of the main reasons why our economy is in such bad shape. This immoral behavior has cost the taxpayers billions of $$. Hang him!
By Joe
April 29, 2009 3:18 PM | Link to this
Chew is innocent. Pete owes Chew an apology. Did Pete base his comments on this article? Really. Guess what I heard about Pete yesterday…
By Scotty Jay
April 29, 2009 3:27 PM | Link to this
Warren County real estate records don’t list a Gregory Chew for anywhere in Warren County. I live in Waynesville and have never heard of the thief. If convicted, I say string him up by the balls from the clock tower at the bank.
By Snotty Jay
April 29, 2009 3:40 PM | Link to this
He is not guilty Scotty Joe. Why do you call him a thief and you do not know or have a clue. maybe you should be checked into…maybe we can hang you by your balls too.
By Read Between The Lines
April 29, 2009 3:43 PM | Link to this
Chew lives at Joe’s house with his daughter. Joe must be sweatin’ about what the neighbors might think.
By No wait
April 29, 2009 3:48 PM | Link to this
Chew is shackin’ up with Snotty Jay. He seems to be way too defensive about the “jewels”.
By UrbanDweller
April 29, 2009 3:53 PM | Link to this
Just out of curiosity, if Chew isn’t guilty, then where did he get $200K+ and why did he have to break it up into small deposits? whole last p
By Waynesville Resident
April 29, 2009 3:55 PM | Link to this
If you read the article closely, the Waynesville man’s name is not actually mentioned. Wonder why? Chew was “also” indicted but it doesn’t say who the Waynesville person is….
By Parker
April 29, 2009 3:58 PM | Link to this
Chew is a thief and needs to be punished accordingly. He should also pay restitution to the people he ripped off.
By Not Snotty anynmore
April 29, 2009 4:41 PM | Link to this
Hey urbansmeller, ask Alaska Senator Ted Stevens he will explain it to you. He was accussed and now he is free. You do not know what he did or did not do. You just know what was in the paper. Oh good god we all know that must be true.
By pj
April 29, 2009 4:43 PM | Link to this
Get your facts straight DDN, you can’t believe what you read a******s!
By barroom barrister
April 29, 2009 4:47 PM | Link to this
You can indict a ham sandwhich.
By pj
April 29, 2009 6:00 PM | Link to this
Don’t be so fast to judge until you get all the facts - you may be next!!!
By A Ham Sandwhich
April 29, 2009 6:12 PM | Link to this
What did i ever do to you people to bring me into this!?!?
By pj
April 29, 2009 7:04 PM | Link to this
your voiced your opinion..Mr.Chew is innocent and no one has the right to judge…..
By Grammar patrol
April 29, 2009 7:15 PM | Link to this
OMG! Is there anyone in dayton with an IQ above 65? How in the world did some of you graduate from kindergarten>?
By AH
April 29, 2009 7:32 PM | Link to this
i know him.
By pj
April 29, 2009 7:40 PM | Link to this
grammar patrol- where did you get your info????or law degree???
By 94z28stroker
April 30, 2009 9:12 AM | Link to this
The bank loan officers and the property appraisers who inflate the value of real property to collect more taxes should also face charges.
By 94z28stroker
April 30, 2009 9:17 AM | Link to this
If the bank will lend you more than the value of the property without having their own appraisals I say prosecute them since they didn’t do job.
By Liam
May 5, 2009 2:03 PM | Link to this
Several things to remember… 1. In the US judicial system, a person is innocent until proven guilty in a court of law and has the right to a trial by a jury of their peers. 2. In these real estate scams the true criminals are the predatory lenders and the appraisers. The former being protected because their appraisal is a matter of “professional opinion”. 3. As for structuring, criminal intent will be difficult to prove simply because there must be some time of evidence denoting intent or a culpable mental state in which there is the desire to avoid an IRS report. The financial institutions provide the reports, not the individual. Ultimately, this is a matter that the courts will decide. I wonder if DDN will report a “Not Guilty” verdict with the same enthusiasm as they have already tried and convicted this individual.
By hesguilty
May 6, 2009 8:04 PM | Link to this
He is guilty! My husband was a victim of his scam. He was an excellent con-artist. Because of him our lives were destroyed. . we lost everything. I hope he gets what he deserves!