2.75 Million Dollar Mortgage Fraud Scheme Indicted
Posted on 2/2/2012
Defendant: Jacob, Adrienne, Aaron Shumaker, Michael Coen, Jeffrey Dixon, And Christina Moore
Prosecutor Ron O’Brien announces today that the Franklin County Grand Jury has returned indictments on six individuals involved in a large scale mortgage scheme. The defendants were indicted for a variety of fraud-related offenses including (RICO) Engaging in a Pattern of Corrupt Activity, Theft, Money Laundering, Receiving Stolen Property, and Falsification.
Jacob D. Shumaker was the president and co-owner of the Columbus, Ohio based mortgage brokerage firm known as Apex Financial Group, Inc., DBA Apex Finance LLC and/or Apex Mortgage (“Apex Mortgage”) and currently resides in Aurora, Colorado.
Adrienne N. Shumaker is the wife of Jacob Shumaker.
Aaron O. Shumaker is the brother of Jacob Shumaker and was an employee of Apex Mortgage in the 2006/2007 time period. Aaron Shumaker resides in Bellefontaine, Ohio.
Michael K. Coen worked as a loan officer for Apex Mortgage in the 2006/2007 time period and resides in Dublin, Ohio.
Jeffrey R. Dixon worked as a loan officer for Apex Mortgage in the 2006/2007 time period and resides in Delaware, Ohio.
Christine B. Moore resides in Columbus, Ohio and was a licensed real estate agent in 2007 and co-owner of Diamond Star Real Estate Executives, which was also located in Columbus.
According to O’Brien, the indictment pertains to 7 property transactions which resulted in over $2.75 million being loaned in mortgages. O’Brien said, “The mortgage loan applications allegedly contained false employment and income information”. O’Brien further stated, “It is also alleged that illegal “kick back” payments were made to defendants and other individuals who helped facilitate the fraudulent transactions”.
Previously, Jacob Shumaker and three others were indicted on mortgage fraud related charges on June 17, 2010, in Franklin County, Ohio. That case, which is still pending, pertains to one property transaction which resulted in a mortgage loan of $735,000. Additionally, Helen Shumaker, who was also an employee of Apex Mortgage was indicted in Franklin County, Ohio on September 28, 2011, on mortgage fraud related charges. That case is also still pending.
“This case is the result of a cooperative task force effort to battle the systemic problem of mortgage fraud which has had detrimental effects on local communities causing foreclosed, empty homes and neighborhood decline. The frequency of this type of crime has also negatively impacted the financial markets of the nation through diminished property values, declining markets impacting 401k’s, pension funds and lowering the net worth of average Americans”, O’Brien stated. The task force members included the Columbus Division of Police, the Franklin County Prosecutor’s Office, Ohio Attorney General's Office, HUD, Ohio Department of Commerce, Upper Arlington Police Department. and other agencies. It is organized and supported by the Ohio Organized Crime Investigations Commission.