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Utah couple faces prison in housing fraud

BOISE, Idaho (AP) - A former Idaho couple embroiled in their family's scheme to buy and quickly sell homes at the height of the U.S. housing bubble has pleaded guilty to wire fraud and face up to 20 years behind bars.
BOISE, Idaho (AP) - A former Idaho couple embroiled in their family's scheme to buy and quickly sell homes at the height of the U.S. housing bubble has pleaded guilty to wire fraud and face up to 20 years behind bars.

Aaron Michael Hymas and his wife, Tiffany Kim Hymas, pleaded guilty on Thursday in U.S. District Court in Boise.

The Hymases, who now live in Utah, acknowledged trying to defraud a lender in 2007 by misrepresenting income.

Prosecutors say the scheme involved numerous Hymas relatives and their acquaintances but collapsed with the fortunes of the imploding housing market, costing lenders tens of millions.

Nine people have been sentenced in related cases, while others await punishment, including Travis Hymas.

The 29-year-old's sentencing hearing is next week; his wife, Season Hymas, faces trial in November.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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