Tyler Ross, 38, of San Francisco, California, United States is a licensed attorney, a real estate executive and a former resident of Michigan, USA. He served as co-chief executive officer of ROCO Real Estate LLC and ROCO Management LLC.
Both companies were based in Bloomfield Hills, Michigan. They operated as a commercial real estate investment firm engaged in the business of purchasing, managing and selling multi-family residential properties in Michigan and elsewhere.
What crime did Tyler Ross commit?
Between 2015 and 2019, Ross and his co-conspirators caused false financial documents to be submitted to mortgage lending businesses for underperforming ROCO properties. They made the properties appear to be more profitable than they were to obtain refinancing or to avoid the exercise of certain contractual provisions by the lenders to protect themselves.
During the conspiracy, Ross personally falsified historical operating statements and directed other members of the conspiracy to assist with the creation and submission of falsified financial statements to mortgage lending businesses.
In 2019, a total of 43 ROCO properties were sold to a privately held real estate investment company. Ross received more than $2 million in proceeds from the sale after supplying false financial information to the buyer and ultimately to the financial institution that issued a $481 million loan for the transaction.
On September 28, 2023, Ross pleaded guilty to one count of conspiring to commit an offense against the U.S. He was originally scheduled to be sentenced on March 12, 2024.
On September 19, 2024, Ross was sentenced to one year and one day in prison followed by two years of supervised release. He was also ordered to pay a fine of $200,000.
CONAN Daily 