Two Men Indicted in Scheme to Defraud Lender
Baltimore, Maryland – In a brazen scheme to defraud lenders, Darryl Wesley Clements, age 50, of Detroit, Michigan, and Rodney Patrick Dunn, age 40, of Elkridge, Maryland, have been charged with conspiring to commit wire fraud and four counts of wire fraud.
According to the indictment, from February to August 2011, Clements and Dunn allegedly created fake documents and lied to lenders about financing for a movie production.
Clements, who allegedly created email accounts that appeared to belong to Dunn and The Shah Group, but which he actually controlled, created fake escrow agreements and proof of funds statements that he wired to CityScope, a company that was attempting to secure financing for the movie.
Dunn, who was employed at a bank that received funds through the Troubled Asset Relief Program (TARP), allegedly communicated with Clements by telephone when prospective lenders called to verify the existence of escrow accounts and their balances.
As a result of their scheme, CityScope was able to secure a $2.5 million loan from a California finance company.
Both defendants face a maximum sentence of 20 years in prison.
An indictment is not a finding of guilt. An individual charged by indictment is presumed innocent unless and until proven guilty at some later criminal proceedings.
Both defendants are expected to appear in U.S. District Court in Baltimore on May 6, 2016, for an initial appearance.
Related Federal Cases
- Darryl Wesley Clements, Wire Fraud, Maryland 2011 · Washington
- Kinston Osagie, Wire Fraud, California 2021 · Washington
- Dogar Singh, Bank Fraud, Maryland 2020 · Kentucky
- Gladstone Njokem, COVID-19 CARES Act Benefits Fraud, Maryland 2023 · District of Columbia
- Rancho Santa Fe Association, PPP Loan Fraud, California 2024 · Hawaii
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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