Michael John Mangan, 43, owner of multiple Minnesota-based businesses, has been indicted and charged with four counts of wire fraud and three counts of mail fraud for allegedly stealing over $1 million of real estate investment funds and loans.
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Timothy Jon Oliver, 60, a Minnesota attorney, pleaded guilty to felony wire fraud for his role in scheme wherein he took funds from a construction company to secure financing for a nonexistent real estate development project.
Thomas Edward Rosensteel III, 41, Excelsior, Robert Scott “Rod” Aslesen, 65, Little Canada, Justin Joseph Christenson, 34, East Bethel, and Dale Russell Wurzinger, 57, Burnsville, Minnesota, have been indicted and charged in connection with the Split Rock Realty mortgage fraud investigation.
John Michael Stevens, 47, Lakeville, Minnesota, pleaded guilty for his role in a scheme to defraud mortgage lenders in connection with the sale of condominiums at the Chateau Ridge development in Burnsville, Minnesota.
Alpha Rashidi Mshihiri, 38, Maple Plain, Minnesota, was indicted on charges of conspiring to defraud mortgage lenders.
Richard Scott Spady, 40, Bloomington, Minnesota, was sentenced for his role in defrauding financial institutions and homeowners under the guise of a program to rescue homes from foreclosure.
Robert Leo Rick, 52, White Bear Lake, Minnesota, was sentenced for his role in a mortgage fraud scheme that defrauded mortgage lenders out of at least $7 million.
Bryan Joseph Lenton, 33, Oakdale, Minnesota, was sentenced for his role in a mortgage fraud scheme that caused losses to lenders exceeding $7 million.
Ashley Elizabeth Prasil, 28, a North Carolina resident, formerly of Eden Prairie, Minnesota, was sentenced in federal court for her role in a scheme that defrauded mortgage lenders out of approximately $8.9 million.Continue Reading...
Chad Arthur Anderson, 39, Chisago City, Minnesota, and Troy Allen Huston, 43, Chisago City, both mortgage loan officers, were sentenced for recruiting straw buyers to purchase properties at inflated prices and then distributing the excess loan funds among themselves, the straw buyers, and others involved in the scheme.Continue Reading...