David R. Sharrock, Mortgage Fraud Scheme Mastermind, Mansfield OH, …

MANSFIELD, OHIO – A Mansfield man has been found guilty of masterminding a $1.3 million mortgage fraud scheme that bilked several banks and financial institutions.

David R. Sharrock, 71, pleaded no contest to 26 counts, including conspiracy, bank fraud, wire fraud, bankruptcy fraud, and making false statements. His daughter, Rhonda J. McElroy, 51, of Bellville, Ohio, was also convicted for her involvement in the conspiracy.

Sharrock and McElroy, along with Ronald L Kightlinger, 51, and Richard W. Balliett, 45, targeted homes in Mansfield, Marion, Galion, Plymouth, Shelby, and Bucyrus, Ohio. They defrauded mortgage lenders by offering hidden down payment assistance to buyers and presenting fake purchase agreements and deposit verifications.

According to court documents, Kightlinger served as a straw buyer for a commercial property purchased from Sharrock in Mansfield. The scam resulted in sellers signing false settlement statements at closing.

This conviction follows an investigation by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorneys Vasile C. Katsaros and M. Kendra Klump.

Defendants Sharrock, Balliett, and McElroy were instrumental in the fraudulent activities, while Kightlinger’s role as a straw buyer furthered the scheme’s reach.

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