Jason Pond, 38, Spring Hill, Florida, pled guilty to making a false statement in an application to obtain a HUD loan.
According to the plea agreement, on September 28, 2010, Pond purchased his home in Spring Hill, Florida, for $110,000. Along with his wife, they received a loan of $49,650 from HUD’s Neighborhood Stabilization Program, as a second mortgage on the home. This loan program would not have required Pond to repay the loan if he lived in the home for 15 years.
In an application to participate in the program, Pond provided false and incomplete information related to his debts, assets, employment, income, and tax returns. One example of a debt that he failed to disclose was a loan that he had received from another government program to obtain a different home. He also did not disclose income he earned from his DJ business, or that he owned certain assets, including two cars and a boat.
Pond faces a maximum penalty of five years in federal prison. A sentencing date has not yet been scheduled.
The guilty plea was announced by United States Attorney A. Lee Bentley, III and investigated by the HUD Office of Inspector General and the Hernando County Sheriff’s Office. It is being prosecuted by Assistant United States Attorney Adam M. Saltzman.