Dawn Renee Harpster, 38, Kidder, Missouri, pled guilty in federal court to defrauding a North Kansas City, Missouri bank in a series of loans. Harpster, formerly doing business as Northwest Missouri Title Co., LLC, Gallatin, Missouri, admitted that she defrauded Norbank by obtaining five loans totaling $866,810 between March 2006 and December 26, 2006.

According to the criminal information, for each of those loans, Harpster admitted, she falsely claimed to have contracts with the Church of Jesus Christ of Latter-Day Saints, Salt Lake City, Utah, under which the LDS Church would purchase Daviess County, Missouri, properties from her. If Norbank would loan her the funds to purchase the properties, Harpster told the bank, then she would sell those properties to the LDS Church one year later at a price of at least $1,300 per acre above her original purchase price, or above the average appraised value of the properties.

For each of the five loans, Harpster submitted false and fraudulent Contracts for the Sale and Purchase of Real Estate in connection with applications for loans.

Harpster also told Norbank that Northwest Missouri Title would handle the closing and would obtain title insurance for her purchase of the properties and for the sale of the properties to the LDS Church. Harpster falsely represented to Norbank that she had obtained a title commitment and title insurance for each of the properties, when in fact she had not done so and the title insurance documents she provided to Norbank were false and fraudulent. Harpster falsely represented to Norbank that she had recorded deeds of trust from Northwest Missouri Title to Norbank, thereby securing the liens on the properties in the amounts of the loans.

Harpster admitted that, when the bank disbursed the loans in the form of cashier's checks, she used the proceeds for personal expenditures and not for the purposes represented.

Under federal statutes, Harpster could be subject to a sentence of up to 30 years in federal prison without parole for each of the five counts of bank fraud, plus a fine up to $1 million and an order of restitution. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.