A couple who ran a Honolulu mortgage company that stole hundreds of thousands of dollars from banks and distressed homeowners beginning in 2005 pleaded guilty yesterday in federal court.

John M. Dimitrion, 33, founder and chief executive of Mortgage Alliance LLC, pleaded guilty to three counts and faces a maximum prison sentence of 45 years and penalties of $1.5 million when he is sentenced Sept. 17.

His wife, Julie A.B. Dimitrion, 37, pleaded guilty to two counts and faces a maximum prison term of 15 years and penalties of $500,000 when she is sentenced Sept. 24.

John Dimitrion and his associates applied for larger loans than what the homeowners owed and stole the proceeds by funneling the money into fake escrow accounts, according to court documents.

In separate proceedings yesterday, the Dimitrions acknowledged committing wire, loan or mail fraud to process loan applications based on false information. The money from the loans was put into an unlicensed escrow company that Julie Dimitrion set up.

John Dimitrion and his associates were accused of finding homeowners on the cusp of foreclosure and offering help if the homeowners agreed to a temporary sale of the house to a third-party "investor" who worked for Dimitrion, according to court documents.

Last week an associate of the Dimitrions', Rick Kealoha Pa Jr., pleaded guilty to wire fraud and conspiracy in connection with the mortgage scheme.