Les Tarrance Sr., Montgomery County business owner, will not be sentenced as originally scheduled. The government motioned the court for a continuance of the sentencing hearing because Tarrance‘s testimony will be necessary in another criminal case (Jarvis Joseph Fontenette, case number H-07-447) set for trial May 13, 2008 before United States District Court Judge Kenneth Hoyt. The government’s motion was granted. Sentencing will take place on June 2, 2008.
Tarrance, Sr pled guilty to conspiracy to commit mail and wire fraud after orchestrating an elaborate scam with two co-conspirators to defraud mortgage companies across the country out of more than $11 million. According to his plea agreement, Tarrance could avoid possible convictions for other crimes related to the scheme – including laundering of monetary instruments and aiding and abetting – and prison time, by cooperating with federal prosecutors.
The scheme, as set forth in the indictment and confirmed in the plea agreement, occurred from September 2000- March 2006. Essentially, Goodson would locate and recruit straw borrowers to purchase homes from Tarrance with the assistance of Booth.
The Defendants included in the indictment are:
Michael Goodson, Recruiter;
Les Tarrance, Sr., owner of Ultra Classic Custom Homes, Inc., and Ultra Classic Custom Homes III, Inc.; and
Nancy Booth, loan officer and loan processor.
The defrauded Lenders included in the indictment are:
Aames Home Loan;
BNC Mortgage Inc.;
Decision One Mortgage;
Long Beach Mortgage;
New Century Mortgage Corp.; and
Wells Fargo Home Mortgage.
The properties included in the indictment are:
212 and 228 W Pines Drive Montgomery, TX;
31 and 53 Fairway Park, Montgomery, TX;
810 Plum Hollow Drive, College Station, TX;
24322 Piney Bend, Spring, TX;
3606 Vashon Lane, Spring, TX;
9627 Stonebridge Place, Tomball, TX;
178 Sentinel Point Court, The Woodlands, TX;
3132 Bentwater, Montgomery, TX;
18 and 22 Hillock Woods, The Woodlands, TX.