The Edmond Sun

Local News

Discussion

April 6, 2007

6 guilty in Oak Tree home fraud

John A. Williams

A federal jury returned a verdict late Tuesday convicting six people, four from Edmond, in a mortgage fraud scheme.

Those convicted include Brandon L. Baum, 32, of Joplin, Mo.; Joseph Conrad Therrien, 29, of Oklahoma City; and Gayle L. Caldwell, 39, Charles E. Caldwell Jr., 41, Teresa M. Therrien, 32, and Rusty Real Therrien, 33, all from Edmond,

John C. Richter, U.S. attorney for the Western District of Oklahoma, said the defendants were indicted on 14 counts in November alleging they were engaged in schemes to defraud various mortgage lenders by artificially inflating the sales prices of homes in Edmond’s Oak Tree subdivision and submitting false loan

applications.

“Schemes like these have a corrosive effect on the real estate marketplace. When we discover them — and you may be sure we will — we aggressively prosecute those involved to protect the buyers, sellers, brokers and lenders who play fairly,” Richter said.

Assistant U.S. Attorneys Susan Dickerson Cox and Nick Lillard alleged in their case that each of the defendants intended to personally profit by funneling substantial sums of money back to themselves and others from the excess sales proceeds under the guise of remodeling, repair costs or marketing service fees.

Evidence at trial showed nine properties were sold in this scheme, according to a press release from the U.S. attorney’s office.

After a 12-day trial, the jury returned a verdict convicting Baum of 13 counts involving wire fraud and engaging in a monetary transaction in criminally derived property. Gayle Caldwell was convicted of two counts involving wire fraud and money laundering.

Her husband, Charles E. Caldwell Jr., was convicted of three counts involving wire fraud.

Joseph Conrad Therrien was convicted of two counts involving wire fraud and engaging in a monetary transaction in criminally derived property.

Teresa M. Therrien was convicted of two counts involving wire fraud and engaging in a monetary transaction in criminally derived property and Rusty Real Therrien was convicted of six counts involving wire fraud and engaging in a monetary transaction in criminally derived property.

At sentencing, each of the defendants face up to 20 years in prison, a fine of up to $250,000 and payment of restitution. All of the defendants are awaiting sentencing, which will be set by the court in about 90 days.

Text Only
Local News
  • 012412 ransbottom bracelet.jpg MIA bracelet finds its way home

    A silver Missing In Action bracelet found its way to the mother of a Vietnam veteran recently.
    It was through the tenacity of another veteran that Laverne Ransbottom was united with her son Fredrick Ransbottom’s memory yet one more time.

    February 4, 2012 2 Photos

  • 020212 school board debate.jpg Board candidates discuss philosophies

    Edmond Board of Education candidates for Seat No. 2 met in a candidate forum sponsored by West Field Elementary’s Parent Teacher Organization Thursday evening.

    February 3, 2012 1 Photo

  • Baby Jake inquiry to continue

    A multicounty grand jury has recessed but will hear from more witnesses when it reconvenes next month.
    On Wednesday and Thursday the 13th Oklahoma multicounty grand jury, led by Assistant Attorney General Charles Rogers, chief of the AG’s Multicounty Grand Jury Unit, received evidence; it also met Jan. 1.
    During the session at the Attorney General’s Office, 313 N.E. 21st St., grand jurors received testimony of witnesses and numerous exhibits in several different matters, according to an interim report released Friday by the attorney general’s office.

    February 3, 2012

  • JESSICA RENAKER.jpg Pot pipe in child’s diaper leads to couple’s arrest

    Two Guthrie residents were arrested after a child arrived at a Head Start program with a marijuana pipe in the child’s diaper, police said.

    February 3, 2012 3 Photos

  • MICHAEL DUSKIN.jpg Police: Registered sex offender moves into East Edmond home

    A 35-year-old registered sex offender is a new Edmond resident, police said.

    February 3, 2012 1 Photo

  • 2-4 Edmond Senior Center calendar

    The following events are scheduled for the Edmond Senior Center the week of Feb. 6.

    February 3, 2012

  • pm_Lisa Crosslin.jpg Edmond resident to lead DC 5th- and 6th-graders

    Inspiring and empowering are two key words in the vocabulary of the new intermediate school principal recently hired by the Deer Creek School Board.

    February 3, 2012 1 Photo

  • pm_science bowl teamA.jpg Santa Fe academic team to compete in D.C.

    Santa Fe High School students have earned their way to the top once again.
    U.S. Energy Secretary Steven Chu announced recently that members of the Santa Fe High School academic team won the Oklahoma Regional High School Science Bowl.

    February 2, 2012 1 Photo

  • jc_Tom GuildA.jpg Guild makes 5th District run official

    Claiming that many people have lost faith in government, Edmond Democrat Tom Guild officially announced his candidacy for the 5th Congressional District of Oklahoma. The middle class and the working poor are under attack, Guild said Thursday at his Oklahoma City campaign office.

    February 2, 2012 1 Photo

  • Economist shows state surged ahead in 2011

    Oklahoma is beating Texas when it comes to recovering from the great recession.
    “One of the things I would like us to do is stop comparing ourselves to Texas. Quite frankly, we are kicking Texas’ behinds,” said Deidre Myers, director of Policy,

    February 2, 2012