Ronald Cedric Touchard | Photo courtesy Orange County DA

A Newport Beach couple is facing money laundering and grand theft charges on allegations that they stole in excess of $5.9 million in a real estate fraud scheme, according to a news report in the Los Angeles Times. The couple pleaded not guilty on Thursday to the charges, according to the report.

The couple was arrested back in May by Newport Beach police, according to the office of the Orange County District Attorney (DA). Prosecutors alleged that Ronald Touchard, a 59-year-old Newport Beach man, took over the titles of three residences he didn’t own, between June and July, by submitting paperwork that alleged he was the sole officer of two investment companies in Laguna Beach.

Misty Denise Touchard | Photo courtesy Orange County DA’s office

He then allegedly convinced lenders that he held the deed of trust for each of the three residences, the DA’s office said and took out $5.9 million in equity out of the three residences.

Ronald Touchard and his wife, Misty Denise Touchard, are accused of using the stolen funds to buy a Land Rover and other large purchases, according to the DA. The DA’s office also says they moved the money between various banks accounts in a pattern consistent with money laundering.

Ronald Touchard faces 54 counts of money laundering, three counts of grand theft and three counts of recording a false or forged instrument. He is facing more than 55 years in prison.

Misty Touchard, 43, also of Newport Beach, was charged with 13 accounts of money laundering and three counts of grand theft and faces up to nearly 25 years in prison.

Email Patrick Kearns

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription