6/6/13 - A local man convicted of running a multi-million dollar mortgage fraud scheme appears to have skipped out on his federal prison sentence. A U.S. District Court Judge in Detroit ordered Ronnie Duke of Fenton to serve 13 years in prison and pay nearly $95 million in restitution along with a $1 million fine in April. He was free on an unsecured $20,000 bond and failed to report to prison as scheduled this week to begin serving his sentence. A federal magistrate signed an order today issuing a bench warrant for his arrest and forfeiture of bond. Duke had faced up to 30 years in prison, but because he cooperated with prosecutors, they agreed to the lesser prison term. Duke was charged in the scheme along with several others, including William Camsell Wells III of Oceola Township who was previously sentenced to 8 and a half years in prison. Duke was at the center of the scam in which fake loans were used to generate cash for travel, upscale homes, expensive boats and even a helicopter. Authorities say the fraud triggered losses of more than $100 (m) million and involved roughly 180 homes in the region between 2004 and 2007. Court records indicate Wells recruited so-called âstrawâ buyers, who filed fraudulent loan applications. Duke would then arrange the loans, which ranged in size from approximately $350,000 to $600,000. Wells also admitted to setting up bank accounts to receive the loan dollars, some of which authorities say was used to finance Hardcore Motorsports, a Hartland-based business that he owned. (JM)
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