Newton’s football coach indicted for wire fraud – Newton Daily News
A Newton football coach has been charged with seven counts of wire fraud, the loss amounting to approximately $ 632,000, according to US District Court documents.
Ryan J. Arguello, of Newton, reportedly introduced himself as a real estate investor and created the RC Homes entity in 2014, where he bought properties at a discount, repaired them and attempted to sell them for a profit, the deed indictment said the Southern District of Iowa.
To finance its real estate transactions, Arguello took out loans from private lenders. In return, Arguello provided mortgages for properties he owned or claimed to own as collateral for loans. Arguello provided the lenders with their mortgage documents, claiming they had been filed with the county registrar’s office.
In order to secure the loan, the lenders would initiate foreclosure proceedings on the mortgages held as collateral if Arguello defaulted on the loans.
However, the indictment says from around August 2018 to around May 2020, Arguello “knowingly conceived, intended to devise and participate in a scheme and contrivance to defraud lenders” and, in so doing, obtain credit. ‘lenders’ money “by means of materially false and fraudulent pretexts.”
Court documents also claim that Arguello intentionally withheld important facts. For example, the indictment states that Arguello sent mortgage documents to lenders which he said were filed with the registrar’s office, but the district court says that is not true and claims that he forged the county registrar’s deposit stamps.
The court also argues that Arguello did not own the properties detailed on some of the mortgages he granted to lenders and claims that emails he sent to lenders stating that his real estate ownership was not true .
Arguello also allegedly emailed a lender identifying himself as a lawyer named Dan Brown and allegedly provided the lender with false mortgage information.
When Arguello failed to repay the loans, court documents indicated that lenders had no recourse as they could not seize a mortgage that had not been filed in their name and could not seize a mortgage for a property that Arguello had never owned in the first place.
Here are the seven wire transfers that Arguello would have received:
• $ 120,000 on August 13, 2018
• $ 67,000 on August 22, 2018
• $ 85,000 on September 5, 2018
• $ 75,000 on October 22, 2018
• $ 85,000 on November 29, 2018
• $ 95,000 on January 24, 2019
• $ 105,000 on August 27, 2019
The Newton Community School District provided the following statement when asked to comment:
“The Newton Community School District is aware of the situation regarding Ryan Arguello. The allegations are unrelated to the school, so further investigations should be directed to law enforcement. The district takes allegations of criminal activity involving its employees seriously. As always, we will follow all district policies, state laws, and legal advice to ensure that we make decisions in the best interests of our students and the community.
Contact Christopher Braunschweig at 641-792-3121 ext. 6560 or [email protected]