Angelo Mancini, III, 41, St. Paul, Minnesota, has been charged with one count of wire fraud. Mancini's Indictment alleges that on Sept. 19, 2006, in a scheme to obtain more than $163,000, applied for a loan for the re-finance of his residence, which he was not financially qualified to obtain.

Mancini provided false statements on the mortgage application including, but not limited to, materially misstating the nature of his employment. Between 2005 and 2007, Mancini worked part-time as a mortgage broker for City Mortgage, a Little Canada-based business that obtains mortgages for consumers.

A loan in the amount of $163,709.80 was approved by BNC Mortgage based upon the false information provided by Mancini, and on Nov. 24, 2006, Mancini knowingly caused a wire transfer of $163,709.80 from BNC Mortgage.

If convicted, Mancini faces a potential maximum penalty of 20 years in prison. All sentences are determined by a federal district court judge. This case is the result of an investigation by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney David P. Steinkamp.