Season Heather Hymas, 27, pleaded guilty Monday in Boise federal court to theft from a financial institution.
According to the plea agreement, on Dec. 8, 2006, Hymas obtained a residential loan based on false statements in a loan application. The false statements included misrepresentations concerning her employment, monthly income, and the account balance of funds held in a bank account.
Hymas, who formerly lived in the Treasure Valley and now lives in American Fork, Utah, is scheduled to be sentenced on April 8 before U.S. District Judge Edward J. Lodge at the Boise federal courthouse.
The misdemeanor charge is punishable by up to one year in prison, a maximum fine of $100,000, and up to one year of supervised release.
In June, a jury found the defendants husband, Travis Richard Hymas guilty on five counts of wire fraud. He was sentenced in October to 24 months in prison for wire fraud and ordered to pay $241,307.04 in restitution.
The Hymases case is part of a multiyear FBI and IRS investigation of mortgage fraud activity related to Crestwood Homes, which involved multiple defendants who bought and sold real estate in order to flip it, or gain profits from the sales. Crestwood Homes was a residential builder in the Treasure Valley that filed a $68 million bankruptcy in July 2008. After doing so, it was discovered that individuals associated with Crestwood were involved in submitting fraudulent residential loan applications to lenders. The financial institutions and mortgage lenders incurred substantial losses on the loan transactions.
Chief U.S. Bankruptcy Judge Terry L. Myers in September 2010 declined to discharge Crestwoods $68 million debt because of the transfer of assets within a year of filing bankruptcy with the intent to hinder, delay or defraud their creditors and their knowing and fraudulent false oaths.
Aaron Hymas was co-owner of the now defunct Crestwood. His business partner, Justin Walker, died in an airplane crash in 2009.
Aaron and his wife, Tiffany, have each pleaded guilty to one count of wire fraud for making false statements on a $295,600 residential loan application. The charge is punishable by up to 20 years in prison, up to three years supervised release and a maximum fine of $250,000. Their sentencing is set for April 11.
Nine other Hymas family members or associates have been sentenced in related federal cases, including Michael J. Hymas, Shauntee K. Ferguson, Christopher R. Georgeson, Stanley J. Ferguson, Brent Bethers, Shane Merlin Hymas, Laurie Krechelle Hymas, Melody Covino Redondo and Paul Redondo.