Aydelott sentenced to 2 years for fraud scheme

The final defendant in a multi-million dollar mortgage fraud scheme was sentenced to two years in prison by a federal judge on Monday.

Bradley Aydelott will serve a 24-month sentence on the charge of bank fraud and money laundering in the scheme involving hundreds of homes in Shelbyville.

He will also serve three years of probation and must pay $2,258,066 in restitution. He will report to federal marshals to begin his sentence on April 7.

Aydelott was indicted last July on the charges, along with Roger Ritch, Carrie Snow, William T. McMahan and Jonathan Henderson, who were charged last May with obtaining financing under false pretenses and falsely representing the employment status and income of borrowers.

All have pleaded guilty to counts one and four of the federal indictment. Aydelott worked for McMahan processing loan applications.

McMahan was sentenced last November to six and a half years in prison and was ordered to pay over $2.4 million in restitution to lenders who were defrauded in the scheme.

Ritch was given a 39-month sentence and must pay over $2.2 million in restitution, Snow received a 27-month sentence and must pay $911,478 in restitution and Henderson received a 20-month sentence and must pay $254,322 in restitution. After serving their federal sentences, the four will be under three years of supervised probation.

According to documents filed in federal court, District Court Judge Harry S. Mattice Jr. gave Aydelott a variance in his sentence.

A motion by Assistant United States Attorney Gary S. Humble stated that "it would be in the best interests of justice based upon the relative culpability and relative gain for ... Aydelott to receive a sentence closer to Henderson's sentence of 20 months and certainly less than Ritch's sentence of 39 months and even Snow's sentence of 27 months."

"He was, however, decidedly more involved in the scheme than Henderson," Humble wrote.

The sentences Mattice has handled down in the case have been criticized by Bedford County Sheriff's Department Detective Brian Farris, who worked for three years investigating the fraud case.

Farris believes the federal judge was far too lenient to those involved in the conspiracy, calling it "no more than a slap on the wrist for the damage that was done."

"That judge sat down there and said there's not two sets of standards for the rich and the poor, but I'm not so sure based on what I've seen and heard," Farris said last month. "It's a travesty."

Humble told the T-G last year that if the victims of the scheme wanted to recover their money or collect damages, individual civil suits or a class action suit against McMahan, Ritch, Snow, Henderson and Aydelott would be required.