Aaron Michael Hymas and Tiffany Kim Hymas, both 38, North Salt Lake, Utah, were sentenced in United States District Court in Boise, Idaho, for their roles in a mortgage fraud scheme.
U.S. District Judge Edward J. Lodge sentenced Aaron Hymas to 24 months in prison followed by three years of supervised release and ordered him to pay $1,520,296.77 in restitution. Tiffany Hymas was sentenced to 60 days in prison followed by three years of supervised release, beginning with six months of home detention. She was also ordered to pay $667,505.42 in restitution. The two former Treasure Valley, Idaho, residents each pleaded guilty to one count of wire fraud on October 18, 2012.
According to the plea agreements, the defendants admitted that they schemed to defraud a lender by having Tiffany submit a residential loan application for $295,600, on March 28, 2007, in which she made material misrepresentations. On the application, Tiffany Hymas stated that she was employed by OPM Enterprises with 2.6 years on the job; that she had income and commissions of $72,500 per month; and that she had gross rental income of $14,600 per month from four properties in Meridian, Nampa and Boise. Based on these misrepresentations, Taylor, Bean and Whitaker Mortgage Corporation funded the loan. The defendants admitted they knew Tiffany Hymas’ statements were false and material to the loan application, and that they knew the statements were false at the time she made them.
The cases are part of a long-term investigation of mortgage fraud activity related to Crestwood Homes, which involved multiple defendants, many of them family members, who bought and sold real estate in order to flip it, or gain profits from the sales. The financial institutions and mortgage lenders incurred substantial losses on the loan transactions.
In addition to Aaron and Tiffany Hymas, eleven individuals have been sentenced since November 2010 on charges of wire fraud, bank fraud and making false statements, including Michael J. Hymas, Shane M. Hymas, Laurie K. Hymas, Shauntee K. Ferguson, Christopher R. Georgeson, Stanley J. Ferguson, Brent Bethers, Melody C. Redondo, Paul Redondo, Travis R. Hymas and Season Heather Hymas.
“Integrity and honesty in the financial world are critical to society,” said U.S. District Judge Edward J. Lodge.
U.S. Attorney Wendy J. Olson announced the sentences.
The cases were investigated by the Federal Bureau of Investigation and Internal Revenue Service-Criminal Investigation, with assistance provided by the Office of the United States Trustee and the Idaho Department of Insurance. The case is being prosecuted by the U.S. Attorney’s Office for the District of Idaho and the State of Idaho, Office of the Attorney General.
“False statements to banks and lenders in order to obtain home loans have undermined the integrity of our nation’s housing financing system,” said Olson. “These sentences send the strong message that those who fabricate financial information to deceive lenders will be investigated, prosecuted and punished.”