Sentencing for Ritch continued

Sentencing for Shelbyville home builder Roger Ritch, who has pled guilty for his participation in a multi-million dollar mortgage fraud scheme, has been delayed until next month.

Ritch was scheduled to be sentenced Monday. However, an order signed by U.S. District Judge Harry S. Mattice Jr. on Monday has continued the sentencing hearing until Feb. 8 at 1 p.m..

Mattice also ordered that Ritch's defense counsel "shall submit any further amendments and/or revisions to his sentencing memorandum no later than Friday, January 15," and that the Government's response "shall be no later than Friday, January 29, 2010."

Right before Christmas, Ritch's attorney, John Norton, submitted a motion requesting a lower sentence from Mattice, claiming that Ritch was a victim of his co-conspirators and that his participation in the scheme was a result of a desire to help people less fortunate than himself to own a home.

In a one-paragraph response, Assistant United States Attorney Gary Humble opposed the motion, stating that Ritch "was the major beneficiary in the scheme."

Ritch, along with Carrie Snow, William T. McMahan and Jonathan Henderson, was charged last May with bank fraud and money laundering in a scheme involving hundreds of homes in Shelbyville. Bradley Aydelott was indicted on the same charges last July.

All have pleaded guilty to counts one and four of the federal indictment, stating that they obtained financing under false pretenses and falsely represented the employment status and income of borrowers.

The scheme resulted in 61 Shelbyville families losing their homes through foreclosure and lenders suffering significant losses.

McMahan was sentenced last November to six and a half years in prison and was ordered to pay over $2.4 million in restitution.

Snow received a 27-month sentence, and must pay $911,478 in restitution and Henderson received a 20-month sentence last month and must pay $254,322 in restitution.

After serving their federal sentences, the three will be under three years of supervised probation.