In the following press release the US DOJ in Portland, Oregon announced that 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.

Please click here to read the indictment

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.

Update on Wednesday, November 14, 2007 at 3:55PM by The Editor - Ian Shuter - ACFE, DMS

On November 14, 2007 the US DOJ announed that Ryan Bonneau, 31, of Portland, pleaded guilty today before United States District Court Judge Michael W. Mosman to wire fraud and money laundering charges in connection with two residential real estate financing transactions. Bonneau was charged along with two others by a federal grand jury in Portland in September, 2006.

The cases involving co-defendants Leann Booth and Troy Martin are set for status conferences later this year or in early 2008 to determine if they will go to trial.

Click here for the full press releaase 

Update on Wednesday, February 11, 2009 at 9:07AM by The Editor - Ian Shuter - ACFE, DMS

On April 8, 2008, Ryan Bonneau, 31, of Portland, was sentenced to 30 months in prison for his role in a mortgage fraud scheme involving two residential real estate transactions in 2004. He will serve a period of five years supervised release after completion of his prison term.

Bonneau was indicted in 2006. Charges included wire fraud, false statements to a federally insured bank, money laundering, and engaging in prohibited financial transactions.

Click here for press release [page 4]