09/20/2006
Three Portland Residents Charged with Fraud in Connection With Real Estate Transactions
PORTLAND, OREGON – Three Portland residents were indicted on September 19, 2006 by a federal grand jury in Portland for federal offenses in connection with two residential real estate financing transactions. RYAN BONNEAU, age 30, of Portland, TROY MARTIN, age 40, a Portland real estate sales agent, and LEANNE BOOTH, age 48, a Portland real estate loan broker, were charged in a 21-count indictment with Wire Fraud, False Statements to a Federally Insured Bank, Money Laundering, and Engaging in Prohibited Financial Transactions. In addition, BONNEAU is charged with Aggravated Identity Theft, and MARTIN is charged with Tampering with a Witness. During the time he allegedly engaged in the conduct charged in the indictment, BONNEAU was on federal supervised release following a prior conviction.
The charges stem from a federal investigation by the Internal Revenue Service (IRS) and the Federal Bureau of Investigation (FBI) into allegations that the defendants engaged in a scheme to defraud the Union Federal Bank of Indianapolis (UFB) in connection with the mortgage financing of the sale of two residential properties located in northeast Portland.
The indictment alleges that in each of the sales, certain defendants made false representations to UFB in order to induce UFB to approve mortgage loans and wire transfer funds to title companies in the Portland area. It is further alleged that defendant BONNEAU caused the submission of false and inflated appraisals to UFB in support of the mortgage applications on two properties, and when he submitted the appraisals, BONNEAU caused the use of an appraiser’s name and license without the authority of the appraiser. The alleged unauthorized use of the appraiser’s name and license by BONNEAU is charged as Aggravated Identity Theft.
Further, the indictment charges Money Laundering and Engaging in Prohibited Monetary Transactions in connection with the disbursements of mortgage proceeds received by the defendants from UFB, and alleges that MARTIN corruptly attempted to induce a title company employee not to provide certain information to investigators.
A criminal indictment is only an allegation and not evidence of guilt. Defendants are presumed to be innocent unless and until proven guilty.
Appearances in federal court in Portland for arraignment on the charges have not yet been scheduled.
Questions may be directed to Assistant U.S. Attorney Lance Caldwell, who is handling the prosecution, at (503) 727-1000.
