Les Tarrance Sr., Montgomery County business owner, 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;

Argent Mortgage;

BNC Mortgage Inc.;

Decision One Mortgage;

First Magnus;

IndyMac;

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.