Ohio Man Found Guilty Of Torching Home After Cashing Out By Refinancing Mortgage Four Times In Three Years

In Akron, Ohio, WKYC-TV Channel 3 reports:

• The Summit County Prosecutor said Raymond Stewart, 38, of Sagamore Hills, was found guilty in a bench trial before Judge Thomas Parker of aggravated arson and insurance fraud.

• On March 30, 2009, Stewart set his own home on fire. He lived in the house with his two children, six and eight years old. He bought the home in 2006 but had been in foreclosure once and had refinanced the mortgage four times. Each time he refinanced, he increased the amount he owed on the principal.

• On the day of the fire, Stewart left with the kids and set it on fire, returning several times to check on its progress, the prosecutor said. The fire was called in by a neighbor at 11:05 pm. Sentencing is set for 1 p.m. Feb. 15. Stewart could receive up to 15 years in prison.

Source: Sagamore Hills man guilty of burning down his own house.