FOR IMMEDIATE RELEASE
Case # 18HF0732
Date: May 23, 2018
NEWPORT BEACH COUPLE CHARGED WITH STEALING OVER $5.9 MILLION IN REAL ESTATE FRAUD SCHEME AND LAUNDERING MONEY TO PURCHASE LUXURY CAR AND INVEST IN WINERY
SANTA ANA, Calif. – A Newport Beach couple were charged with stealing over $5.9 million in a real estate fraud scheme and laundering money to purchase a luxury car and invest in a winery.
| Defendant | Charges | Maximum Sentence | Court Date |
| Ronald Cedric Touchard, 59, Newport Beach | Charged today with the following felony counts:
|
55 years and four months in state prison | Arraignment
May 24, 2018, 10:00 a.m. Department CJ-1, Central Jail, Santa Ana |
| Misty Denise Touchard, 43, Newport Beach | Charged today with the following felony counts:
|
24 years and eight months in state prison | Arraignment
May 24, 2018, 10:00 a.m. Department CJ-1, Central Jail, Santa Ana |
Circumstances of the Case
- Between June 13, 2016, and July 1, 2016, Ronald Touchard is accused of taking over the titles of three residences in the city of Newport Beach he did not own or have claims to by submitting paperwork to the State of Delaware indicating he was the sole officer of Capital Win Corporation and Gainquick LLC (CWCG), an investment company based in Laguna Beach.
- Ronald Touchard is accused of convincing “hard” money lenders that as the president of CWCG, he held the deed of trust for each residence although he did not. Mr. Touchard is further accused of taking $5.9 million in equity out of the three residences for his and his wife’s financial benefit.
- Ronald and Misty Touchard are accused of using the stolen funds to make numerous large purchases including a Land Rover, and moving the money between various bank accounts in a pattern consistent with money laundering.
- The Orange County District Attorney’s Office investigated this case and arrested the defendants today with the assistance of Newport Beach Police Department.
Prosecutor: Deputy District Attorney Nagy Morcos, Major Fraud Unit