A Newport Beach couple charged with money laundering and other crimes for allegedly orchestrating a real estate fraud scheme that bilked lenders out of more than $5.9 million are scheduled to be arraigned Thursday.

Ronald Cedric Touchard, 59, was charged Wednesday with 54 counts of money laundering, along with three counts of grand theft and three counts of recording a false or forged document. His wife, Misty Denise Touchard, 43, was charged with 13 counts of money laundering and three counts of grand theft.

According to prosecutors, Ronald Touchard filed phony documents in Delaware claiming to be the sole officer of a Laguna Beach investment company called Capital Win Corporation and Gainquick LLC, then took over the titles of three Newport Beach homes that company owned, according to Deputy District Attorney Nagy Morcos.

Touchard allegedly convinced three lenders that he held the deed on the homes as the president of the investment company, and he was able to obtain equity loans of $5.9 million. He and his wife are accused of using the money to make large purchases, including a Land Rover. Some of the money was used to invest in a winery, Morcos said.

The couple also allegedly moved the money among various bank accounts in an effort to avoid detection, Morcos said. They also would make purchases in cash to avoid detection, Morcos said.

Ronald Touchard faces more than 55 years in prison if convicted, prosecutors said. His wife could face 24 years and eight month behind bars.

A message left with their attorney, Paul Meyer, was not immediately returned.

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