Myrtle Beach resident Stephen Yura pleaded guilty this week in federal court in Florence to one felony charge of making a false statement on a credit application in order to influence a lender to make a home loan.
Yura faces a maximum 30-year prison sentence and a $1 million fine followed by five years of supervised release. He also will be ordered to pay an unspecified amount of restitution. Yura’s sentencing hearing has not been scheduled.
Yura initially was charged with three felonies but prosecutors dropped two of the charges in exchange for his guilty plea.
Yura bought a trio of homes during a two-month span beginning in December 2007 and stated on each application that the home would be his primary residence, according to court documents. Yura did not occupy the homes, which were located in the Pines of St. James, Hunter’s Ridge Plantation and Mallard Landing neighborhoods throughout the Grand Strand.
Yura defaulted on all of the mortgages and the homes wound up in foreclosure within months, court records show.
Horry County property records show Dunes Mortgage originated at least one of the three home loans. Darin Epps, the owner of Dunes Mortgage, is serving a prison sentence for mortgage fraud in unrelated cases. Yura also bought another home during that two-month period from Jeremy Eason, a Dunes Mortgage employee. Eason fled the country after an indictment accusing him of mortgage fraud was issued in January 2012. An arrest warrant is pending for Eason.