Spring Hill Man Pleads Guilty To Making A False Statement

Tampa, Florida – United States Attorney A. Lee Bentley, III announces that Jason Pond (38, Spring Hill) today pleaded guilty to making a false statement in an application to obtain a United States Department of Housing and Urban Development (HUD) loan. He faces a maximum penalty of five years in federal prison. A sentencing date has not yet been scheduled.

According to the plea agreement, on September 28, 2010, Pond purchased his home in Spring Hill for $110,000.  Along with his wife, they received a loan of $49,650 from HUD’s Neighborhood Stabilization Program (NSP), as a second mortgage on the home. The NSP was established by HUD to provide emergency assistance to stabilize communities with high rates of abandoned and foreclosed homes. The NSP was designed to assist households whose annual incomes are up to 120 percent of the area median. This loan program would not have required Pond to repay the loan if he lived in the home for 15 years.

In an application to participate in the program, Pond provided false and incomplete information related to his debts, assets, employment, income, and tax returns. One example of a debt that he failed to disclose was a loan that he had received from another government program to obtain a different home. He also did not disclose income he earned from his DJ business, or that he owned certain assets, including two cars and a boat.

This case was investigated by the HUD Office of Inspector General and the Hernando County Sheriff’s Office. It is being prosecuted by Assistant United States Attorney Adam M. Saltzman.