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Arraignments set in mortgage fraud case
Monday, April 28, 2008
Three area people are expected to be arraigned Tuesday morning in federal court on charges of conspiracy to commit fraud.
William Bowling Jr., 46, of Cincinnati, Georgia Bowling, 64, of Franklin, and Gregg Russell, 54, of Middletown, are slated to be arraigned at 9:30 a.m. Tuesday, April 29, on charges connected to a loan. The case is being heard in U.S. District Court in Covington, Ky., before Magistrate Judge Gregory Wehrman.
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According to the court, the defendants are expected to enter pleas on the charges. Judge Danny C. Reeves has been assigned to hear the case. The case is being prosecuted by federal authorities because the loan was processed at the Fort Mitchell, Ky., office of Countrywide Financial Corp. in March 2004.
A federal grand jury there indicted the three defendants on April 10. They allegedly conspired to defraud mortgage broker Countrywide Financial Services of about $3.5 million to purchase 24 four-unit apartment buildings in Kettering. Federal prosecutors said the defendants allegedly misrepresented information about repair work on the properties to get the loan, which funded the down payments for the properties.
If convicted, all three could face possible 20-year prison terms as well as fines of up to $250,000, plus up three years of supervised release and restitution.
William Bowling Jr. is the son of Georgia Bowling, a licensed real estate agent with Courtney Duff & Associates of Middletown. Russell also is a licensed real estate agent and president of Courtney Duff & Associates.
Contact this reporter at (513) 705-2871 or erichter@coxohio.com.
