Newport Beach Article.
A couple in Newport Beach allegedly convinced three different local banks to lend money upwards of $5.9 million in a money laundering scheme that afforded them luxury cars and an investment in a winery, the Orange County District Attorney has said.The pair, Ronald Cedric Touchard, 59 and his wife Misty Denise Touchard, 43, both were charged with money laundering and other crimes and are scheduled to be arraigned Thursday.Along with three counts of grand theft and three counts of recording a false or forged document, Ronald Touchard was charged with 54 counts of money laundering.. Misty Touchard was charged with 13 counts of money laundering and three counts of grand theft.Ronald Touchard filed phony documents in Delaware claiming to be the sole officer of a Laguna Beach investment company called Capital Win Corporation and Gainquick LLC according to prosecutors, then took over the titles of three Newport Beach homes he did not own.He was able to obtain equity loans of $5.9 Million. Touchard allegedly convinced three lenders that he held the deed on the homes as the president of the investment company. Including a winery and a Land Rover. He and his wife are accused of using the money to make large purchases. The couple also allegedly moved the money among various bank accounts in an effort to avoid detection, prosecutors said.
