Roger K. Howard, Multi-Million Dollar Real Estate Fraud, Colorado 2014

Denver Man Sentenced to Prison Term for Multi-Million Dollar Real Estate Fraud Scheme

DENVER – Roger K. Howard, 51, of Englewood, Colorado, was sentenced on Tuesday, February 11, 2014, by U.S. District Court Judge R. Brooke Jackson to serve 108 months in federal prison for wire fraud and money laundering.

Following his prison sentence, Howard was ordered to serve 3 years on supervised release. He also has to pay $8.9 million in restitution to the victims of his crime.

The defendant, who appeared at the sentencing hearing free on bond, was ordered to report to a facility designated by the U.S. Bureau of Prison within 15 days from the date of designation.

Howard, along with a co-defendant, Oai Quang Luong, 45, were indicted by a federal grand jury in Denver on January 25, 2012. Howard pled guilty on June 21, 2013. He was sentenced on February 11, 2014.

Howard’s co-defendant, Oai Quang Luong pled guilty to wire fraud on May 22, 2013 and was sentenced by Judge Jackson on August 15, 2013 to serve 18 months in prison. Luong was ordered to pay restitution totaling $3.2 million joint and several with Howard.

According to the facts contained in the indictment as well as the stipulated facts contained in the plea agreement, in 2006 and 2007, Howard devised and participated in three similar but separate mortgage-fraud schemes.

The first and larger scheme involved the sales of twenty-six town homes in a development known as Oliveglen Villas on East Princeton Place, Aurora, Colorado.

The second scheme involved the sale of a residence in Castle Rock, Colorado, and the third a house in Denver, Colorado.

During the relevant times, Howard operated under the business names of Spring Creek Mortgage Real Estate Services and Open Range Development LLC. Howard controlled bank accounts in the names of both companies.

Also at the relevant time, Howard’s co-defendant, Oai Luong, worked for a company that processed mortgage loan applications on behalf of potential home buyers.

Both Howard and Luong had offices in the same building in Centennial, Colorado.

By the middle of 2006, the developer of Oliveglen Villas had accumulated an inventory of unsold town homes.

At that time, two real estate agents attempted to obtain the right to buy some of the town homes, but they were unsuccessful.

The agents then were referred to Howard, who told them that he could arrange for individuals, whom he described as investors, to purchase the properties.

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