Greg s. Chew

Waynesville man sentenced to 5 years for $4.7M mortgage fraud
Waynesville man sentenced to 5 years for $4.7M mortgage fraud
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By Justin McClelland, Staff Writer
Updated 1:44 AM Saturday, May 21, 2011
DAYTON – A Waynesville man was sentenced to five years in prison Thursday for bilking mortgage lenders out of $4.7 million dollars over a six year period, the U.S. Attorney’s office said.
Gregory S. Chew, 43, Waynesville, was convicted in March 2010 in the U.S. District Court in Dayton of masterminding a multi-million dollar mortgage fraud scheme involving 17 property investors and 61 Dayton area residential properties, Attorney General spokesman Fred Alverson said.
Starting in 2003, Chew, a real estate facilitator at the time, and co-defendant Richard C. Confer, Jr., of West Carrollton, a mortgage broker with Aleva Mortgage Company, prepared numerous false and forged mortgage loan applications and HUD-1 settlements statements to secure fraudulent loans in the amount of $4.7 million, Alverson said. The duo worked together until 2009, Alverson said.
Chew deposited more than $2.2 million in disbursement checks from various title agencies in his own personal accounts, using the money to pay his co-conspirators, fund fraudulent down-payment checks, and for his own personal gain including the purchase of several vehicles, Alverson said.
Chew was convicted on one county of money laundering, one count of conspiracy to launder money and three counts each of mail fraud and wire fraud. He was sentenced by U.S. District Judge Thomas Rose to 60 months in prison and an additional 60 months of supervised release, a form of probation, Alverson said.