Another defendant in the Riverbottoms mortgage fraud case, this time one who acted as a straw buyer, has pleaded guilty.

Three other defendants in the case have already pleaded guilty -- Steven Wells Cloward, Bradley Kitchen and David Bolick. The U.S. Attorney's Office dropped charges against another defendant in the case, Rebecca Ann Hadlock, because of a lack of evidence. There is one remaining defendant who hasn't pleaded guilty, Ron Clarke. His trial is set to begin on Aug. 25.

In his plea agreement, Garrett stated that he made false statements on a loan application for a home in Provo. He stated on the application that he was the executive vice president at Precision Title; that his salary was $65,000 per month; that he had assets at Utah Community Credit Union, Oppenheimer and Ameritrade; and that he would use the home as a primary residence. Garrett also stated that he signed a HUD settlement statement that indicated he made a $25,000 downpayment, but the check, made payable to Precision Title, was never deposited or cashed. He also stated that he had made a downpayment in the amount of $286,736.04, which he had not. These actions caused the wiring of more than $1.2 million in loan proceeds from a bank outside Utah to a title company in Utah.

The mortgage scheme targeted between 20 and 30 homes in the Riverbottoms area of Provo, but ultimately it affected the valuations of 550 homes because the scheme artificially inflated all home prices in the area, according to the Utah County Assessor's office.

Of the 550 affected homes, 460 had to have their property valuations adjusted in November 2007. That took place after 200 residents in the Riverbottoms area appealed their property tax valuations, which skyrocketed between 50 percent and 100 percent in just one year. The property valuations of most homes in other parts of Provo were up only 20 percent by comparison, said Utah County Assessor Kris Poulson.