From Deseret News archives:
Fifth defendant pleads guilty in Provo mortgage scam
Ron K. Clarke, a Provo real estate agent, pleaded guilty to one count of wire fraud Thursday. In return, federal prosecutors agreed to drop 18 other counts in an indictment. Clarke faces up to 20 years in prison, but prosecutors recommended Judge Ted Stewart impose a lesser sentence.
Clarke and four other people Bradley Grant Kitchen, David R. Bolick, Steven Wells Cloward and Jeffery David Garrett conspired to obtain fraudulent loans on homes in the Provo Riverbottoms for which they grossly inflated market values with false appraisals. Proceeds from the loans secured with the good credit of straw buyers totaling at least $18 million were divided among the participants.
In a sworn statement, Clarke said that at Kitchen's urging he entered home prices into the real estate industry's Multiple Listing Service at more than $1 million above their fair market value.
Clarke said he stopped working with Kitchen after he was asked to enter four homes into the MLS at $4 million each.
The five men are scheduled to be sentenced in December. They might have to collectively pay as much as $7 million in restitution.
The indictment was the first product of the Utah Mortgage Fraud Task Force, a federal, state and local enforcement network formed a year ago.
E-mail: romboy@desnews.com
Recent comments
Clarke's beliefs don't match his actions. He was wrong at the time...
Anon | Nov. 24, 2008 at 4:21 p.m.
I believe in forgiveness and not judging. I also believe in being...
Provo Real Estate Professional | Sept. 11, 2008 at 12:19 p.m.
Doesn't EVERY religion teach repentance and FORGIVENESS?! Sometimes...
Look at you! | Aug. 22, 2008 at 11:35 p.m.
- Photos: New Peruvian consul 10:34 p.m.
- Death penalty possible in slayings 10:32 p.m.
- Highland may pay for burned home 10:31 p.m.
- Workers Comp may have to pay $15M 10:30 p.m.
- British military ends its UFO hotline 10:28 p.m.
- Obama: Plans will increase hiring 10:11 p.m.
- Battle goes to PG's Hamson 10:04 p.m.
- Murder case starts for juvenile 10:03 p.m.
- Ed Smart 'appalled' at testimony 10:03 p.m.
- Higher school math requirements? 10:01 p.m.
- Mr. Football 2009: Tuni Kanuch
- Ed Smart 'appalled' at testimony
- 5A high school football All-State
- Miller predicted Tiger's rough road
- Utah Jazz going green with unis
- 4A high school football: All-State
- Harpring's NBA career is over
- Nutty Putty Cave to be sealed today
- MVPs wrap up stellar prep careers
- Jazz: Miles, Kirilenko to play Friday
- Hall reprimanded by MWC
409 - Why is Y. ignoring spew of hatred?
293 - BYU says Hall incident resolved
247 - Letters: Liberal because LDS
236 - 2 citations issued at Y.-U. game
189 - Hate not limited to 1 in-state rivalry
184 - Aggies shoot past Cougars
179 - Religion in politics is tiresome
159 - N.Y. Senate rejects gay marriage
118 - Max Hall: a fixture in rivalry lore
117
Trolley Square's annual Holiday Open House will feature visits with...
That does it — I'm having an affair! Thanks to Tiger Woods, David...
First, a big thank you to all who posted questions here for me to ask...
Proud of my Duchesne Eagles this year. As for the comment from Anonymous! Our...
Yes, Beck is extreme. And his popularity is only catching fire because of how...
because of his coach Keith Chatelain. He helped mold Tuni into the monster...
Morality cannot be legislated... but justice can be.
What a great story and what a great example this man and his family are. I...
Really over the top to have a photo to Brady however, the deflection tactic...
Home base (common sense an principle centered thought) only seems an extreme...
Everyone knows that churches don't have to marry anyone NOW that they don't...
I am repulsed by both Beck and the know-it-all BYU profs. This from a mature...
Great article! Very well written and analytical of the factors that go into...


