David Saks: June 2012

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

CONVICTION RETURNED IN MULTI-DEFENDANT MORTGAGE FRAUD CASE

Travis Hymas Convicted on Multiple Counts of Wire Fraud
Case Related to Multi-Defendant Crestwood Mortgage Fraud

U.S. Attorney’s Office June 22, 2012
  • District of Idaho (208) 334-1211
 
 

BOISE—A federal jury in Boise today convicted Travis Richard Hymas, 28, of Cedar Hills, Utah, formerly of Meridian, Idaho, on five counts of wire fraud related to mortgage fraud, U.S. Attorney Wendy J. Olson announced. Sentencing is set for September 4, 2012, before U.S. District Judge Edward J. Lodge at the federal courthouse in Boise.

During the eight-day trial, the jury heard evidence that between November 2006 and March 2007, Travis Hymas defrauded five lenders on loans valued in excess of $1 million.

In December 2011, a federal grand jury returned a superseding indictment charging Hymas and his wife Season with five counts of wire fraud. In the near future, the case against Season Hymas will be set for trial.

In a separate case, husband and wife Aaron Michael Hymas and Tiffany Kim Hymas, of Bountiful, Utah, were indicted on February 15, 2012, on multiple counts of wire fraud, false statements to financial institutions, and bankruptcy fraud. The two defendants are set for trial on October 16, 2012. Aaron Hymas was the former chief executive officer of Crestwood Construction, also doing business as Crestwood Inc. The companies were engaged in residential construction in Idaho and Utah.

The cases are part of an investigation of mortgage fraud activity related to Crestwood, which involved multiple defendants 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.

To date, nine people have been sentenced in related cases, including Michael J. Hymas, Shauntee K. Ferguson, Christopher R. Georgeson, Stanley J. Ferguson, Brent Bethers, Shane Merlin Hymas, Laurie Krechelle Hymas, Melody C. Redondo, and Paul Redondo.

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.

source: FBI



David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 0 commentsDavid Saks • June 25 2012 10:08AM
CONVICTION RETURNED IN MULTI-DEFENDANT MORTGAGE FRAUD CASE
share
Travis Hymas Convicted on Multiple Counts of Wire Fraud Case Related to Multi-Defendant Crestwood Mortgage Fraud U. S. Attorney’s Office June 22, 2012 District of Idaho (208) 334-1211.. more
BROKER FINED 50K FOR FRAUD - WILL NEVER WORK AS BROKER AGAIN
share
Loveland Mortgage Broker Fined $50, 000 for False Statements on Loan Applications Agrees Never to Work as Mortgage Broker U. S. Attorney’s Office June 22, 2012 District of Colorado (303… more
Real Estate Practice : Lesson 1720
share
#1720 When we talk about retail space and office buildings we're usually speaking of examples of special use real estate and commercial property. Please take your time. The… more
Real Estate Practice : Lesson 1719
share
#1719 When we talk about REALTORS® we're talking about professionals that are members of the National Association of Real Estate Brokers Is this true or false This is… more
Real Estate Practice : Lesson 1718
share
#1718 Power plants, warehouses and factories are considered examples of commercial property when the various classes of real estate are applied to identify such properties. Is this true or false Take your time. The solution is… more
Real Estate Practice : Lesson 1717
share
#1717 When we consider the supply of labor and the cost of construction we also consider that supply of labor and cost of construction will impact the demand for real estate in any… more
Real Estate Practice : Lesson 1716
share
#1716 There are five classes of real estate. They are commercial, residential, agricultural, rental, and special purpose. Is this characteriztion of the five classes of real estate… more
Real Estate Practice : Lesson 1715
share
#1715 When something has the quality of being of uniform throughout in it's composition or structure or has the quality of being similar or comparable in kind or nature we call it… more
Real Estate Practice : Lesson 1714
share
#1714 A man is building a deck on the rear patio slab of his new home. He has just purchased the lumber which he needs to build the deck. The lumber has just been… more
Real Estate Practice : Lesson 1713
share
#1713 When considering the concept of real estate, most of the follwing would be included in the sale of a parcel of land except which of the following items 1. Air Rights… more