Accountant Pleas Guilty to Mortgage Fraud

Morton D. Bohn, a Tigard Certified Public Accountant has pleaded guilty to bank fraud and money laundering in regard to mortgages he obtained through Countrywide Financial Corporation.

Mr. Bohn, age 69 in his plea agreement stated that he provided fraudulent individual tax returns to Countrywide Financial Corporation and Silver Falls State Bank when he sought to refinance a property loan in January of 2004.

Mr. Bohn applied for a property loan in 2003 to refinance his Lake Oswego, Oregon property from Countrywide Financial Corporation. Countrywide Financial Corporation approved a loan for two hundred eighty-three thousand two hundred dollars. The lender approved the loan based on the fraudulent individual tax returns he provided.

Mr. Bohn also attempted to obtain another loan between October of 2006 and April of 2007 from Silver Falls State bank. Silver Falls State Bank loaned two hundred eighty-eight thousand one hundred seventy-one dollars based on the fraudulent tax returns. The bank was also working on approving a loan for four hundred eighty thousand dollars however Mr. Bohn defaulted on the original construction loan before the second transaction transpired.

Mr. Bohn in his plea agreement has agreed to pay restitution in the amount of two hundred eighty eight thousand one hundred seventy one dollars.

Mr. Bohn is facing a maximum sentence of up to thirty years in federal prison and a one million dollar fine. He has been scheduled to appear before a judge for sentencing in April of this year.