BOISE — A Bountiful couple was named in a federal indictment Thursday that alleges multiple counts of wire fraud, false statements to financial institutions and bankruptcy fraud.

Aaron Michael Hymas, 37, and his wife, Tiffany Kim Hymas, 36, were charged by the U.S. Attorney's Office for Idaho in connection with a scheme that involved "flipping houses." The couple is accused of submitting "false and fraudulent loan applications on approximately 30 mortgage loans," according to office spokeswoman Pamela Bearg.

The 17-count indictment involves activity spanning from February 2005 to March 2007. The couple also allegedly lied about their monthly incomes, the rental incomes for the homes and their employment positions.

In 2008, the couple filed for bankruptcy and listed their total debts at $68 million, Bearg said. A year before the couple filed for bankruptcy, prosecutors say they "initiated a scheme to defraud creditors and to avoid making their assets available to creditors in satisfaction of their debts."

If convicted, the Hymases face up to 30 years in prison on each count of wire fraud affecting a financial institution, 20 years in prison for the additional wire fraud counts and up to five years in prison for the charges of bankruptcy fraud and fraudulent transfer of assets in contemplation of bankruptcy. They are also facing maximum fines in excess of $1 million.