Chico homebuilder pleads guilty, faces up to 20 years in prison
A Chico homebuilder faces up to 20 years in prison after pleading guilty Friday to federal charges linking him to a mortgage fraud scheme. Tony Symmes, the owner of Aspire Homes, admitted to one count of conspiracy to commit mail fraud and one count of money laundering.

Chico homebuilder pleads guilty, faces up to 20 years in prisonContributor: Kelli Saam
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
See News Report 

According to the plea agreement, from 2006 through 2008, 59 year old Symmes sold 62 homes to straw buyers recruited by Garret Gililland of Chico and others. The purchase price on each home was inflated by up to $60,000. Symmes would then write a check back to the front companies controlled by Gililland and others, totaling more than $2.5 million dollars. The rebates on the purchase price were not disclosed to the lenders who financed the
properties for the straw buyers.

Gililland pleaded not guilty.

Because Symmes is cooperating with the investigation and poses no flight risk, he has been allowed to remain out of custody
until his sentencing.

Symmes will be sentenced September 3rd. He faces a maximum sentence of 20 years in prison, a $250,000 fine and three
years of supervised release. The actual sentence will be determined by the judge. Under the plea agreement, prosecutors are recommending a sentence of 10 years
http://www.khsltv.com/content/localnews/story/Chico-homebuilder-pleads-guilty-faces-up-to-20/xPLOEaXg6EqdyXxf8T3pGg.cspx