82° F
Mostly Cloudy
Mostly Cloudy

Madison man sentenced to prison for mortgage fraud

Published On: Jun 16 2014 01:28:40 PM CDT   Updated On: Jun 16 2014 01:29:00 PM CDT
Gavel generic

A Madison man was sentenced to six months in federal prison for his role in a mortgage fraud scheme, according to a release from the U.S. Department of Justice.

David E. Robert, 42 was also sentenced Thursday to pay a $1,000 fine and $336,100 in restitution. He pleaded guilty to the charge on April 3.

Investigators said Robert was the owner of Western Designs and Sterling Concepts, residential construction companies, and between in 2006 he conspired with two others to secure a first and second mortgage for the purchase of a home in Westport.

One of the two, Becky L. Ring, formerly known as Becky L. Stoltenberg, was the former owner of JC Mortgage in Madison and P. Edwin Gray, of Oregon, was Robert’s accountant.

According to prosecutors, Gray falsified Robert’s income on a W-2 which allowed him to qualify for the mortgage loans that he otherwise would not have gotten. Stoltenberg acted as the mortgage broker on the loans and transmitted the documents to the bank.

Gray pleaded guilty to mortgage fraud in August 2012 and was sentenced to three years of probation in October 2012, which was later reduced to one year of probation.

Ring pleaded guilty to mortgage fraud in November 2012 was sentenced to one year of probation.

Gray had paid $700 towards restitution. Ring paid the remaining restitution owed of $335,400 prior to her sentencing.

Robert will pay nothing towards restitution because he was given credit for the payments made by the other two.

  • Buddy Check 3

    Learn more about Buddy Check and sign up to get a reminder to perform a self-exam and remind your friends to do the same.

  • Jack in Madison

    Jack in Madison

    Your pet photos

    Email us a picture of you and your pet and we'll use it in out Pet Walk segment which airs every weekday morning at 6:40. Include your name, your pet's name and where you're from. Email to

  • Time for Kids - Explore the Outdoors

    Dean Clinic and WISC-TV3 are focusing on a year-long campaign to get kids off their electronics and into the outdoors.