Middletown Man Sentenced to Two Years in Mortgage Fraud Scheme

WILMINGTON, DE—Charles M. Oberly, III, United States Attorney for the District of Delaware, announced today that Ronald Tate, 42, of Middletown, Delaware had been sentenced by Chief Judge Gregory M. Sleet to a two-year term of prison.

In June 2011, Tate pled guilty to a two-count felony information charging him with one count each of mail fraud and wire fraud. In early 2008, with the assistance of others, Tate submitted a fraudulent mortgage application to fund the purchase of a home valued at almost $1 million in North Wilmington. The application included false information about Tate’s employment and income, as well as a false verification of funds on deposit. The following year, between May and September of 2009, Tate cashed six different checks totaling more than $240,000 and obtained from credit unions around the country. Each of these checks had been obtained on the false premise that it was a loan to be used to fund the purchase of a car, when, in fact, the funds were used for other purposes and no payments were made on the associated loans.

United States Attorney Charles M. Oberly, III stated,“Today’s sentencing highlights the serious nature of the crimes committed by Mr. Tate and demonstrates that abuses of the financial system cannot and will not be tolerated. The United States Attorney’s Office, working with federal and state law enforcement partners, remains firmly committed to the aggressive pursuit of individuals and entities who compromise the integrity of the financial system through the commission of fraud.”

This case was prosecuted by Assistant United States Attorney Lesley F. Wolf and was jointly investigated by the Federal Bureau of Investigation and Delaware State Police. For further information, contact Press Information Officer Kimberlynn Reeves at 302-573-6277, ext. 16287.