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Guilty pleas expected in mortgage fraud trial
Four defendants are accused in a 14-count indictment involving 350 loans.
Wednesday, February 07, 2007
DAYTON — — The four defendants in a federal mortgage fraud trial that was set for Tuesday morning are now expected to plead guilty to some charges, according to court officials.
The trial of Randall Aaron Davidson, the alleged ringleader of a property flipping scheme, and three others was postponed at the request of the defendants, court officials said.
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The four are accused in a 14-count indictment of participating in a property flipping scheme that involved 350 fraudulent loans in the Dayton area worth $22 million between 2001 and 2004.
All four defendants are expected to enter guilty pleas to some charges, said Carla Evans, courtroom deputy for Judge Walter H. Rice.
Davidson's plea hearing is set for 9:30 a.m. Friday, Evans said. A plea hearing for co-defendant, Michael McWhirter, is set for 3 p.m. Feb. 16.
Hearings for the other two defendants, Mary J. Donaldson and Jocelyn L. Hammond, are yet to be scheduled.
The most serious charge faced by the 56-year-old Davidson is conspiracy to commit money laundering, which carries a maximum sentence of 30 years in prison, said Assistant U.S. Attorney Dwight Keller.
The Davidson case is the biggest so far investigated by the Montgomery County Mortgage Fraud Task force, which was formed early last year.
The task force, directed by Perry Twp. Police Detective Terry Neely, is made up of investigators from the Ohio Department of Commerce, the U.S. Department of Housing and Urban Development, the FBI, the IRS, the Ohio Attorney General's Office and postal inspectors. Neely has said more indictments are in the works.
