fraud051308
On the homepage
Sunday's paper
Out There
Vita.mn
Homegirls
2 sentenced in Twin Cities bank fraud of more than $2.3 million
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Follow local news on TwitterMore from Local + Metro
Two of six defendants have been sentenced for their part in mortgage fraud that cost Twin Cities area banks more than $2.3 million.
Sentenced Friday in U.S. District Court in Minneapolis were Sean B. Leaf, 35, of Woodbury, to 18 months in prison and three years' probation, and Joddilee M. Lindberg, 50, of Minneapolis to four years' probation and eight months of community confinement with work release.
Both admitted to conspiracy to commit mail and bank fraud. They, along with the others, were ordered to pay more than $2.3 million in joint restitution.
The scheme involved filing false information to banks and mortgage lenders to help applicants get loans between 2000 and August 2004.
They concealed the fact that a brokerage called First Rate Mortgage Group actually had lent applicants money for their down payments, according to the U.S. Attorney's Office.
In addition, the defendants submitted loan applications that included inflated financial information, false employment information, forged signatures, and phony and altered pay stubs.
In one case in 2004, the defendants submitted fraudulent documents so that a borrower could buy property in Wayzata with a $1.33 million loan from Washington Mutual Bank and a $378,555 loan from Associated Bank, the government said.
--Paul Walsh • 612-673-4482
Recent Local + Metro stories
Bus ridership drops amid lost jobs, lower gas prices - May 12, 2008
Bus ridership drops amid lost jobs, lower gas prices - Transit providers say lower gas prices are also keeping people off the buses in the south metro. More
- Woman's body found on Minneapolis boulevard
- Minneapolis limits street parking until April 1
- Police: Females being grabbed near schools in Duluth
- Teen accused in Seward shootings will contest name, birthdate
- Smashed: Minnesota lives derailed by drunk drivers
- 10 years later, same fire, anger
- Full-body scanners headed for MSP
- Senate passes $1 billion bonding bill
- Pawlenty: Keep sex offenders in prison
- Bill helps consumers against debt buyers
- Pawlenty defends budget cuts
- Pawlenty delivered $100,000 check for man behind Swift-boat ads
- What do politicians call a gorilla? Anything but
- Pawlenty plays courier for Texas donor
- Pawlenty: Undecided on presidential bid; maybe next year
- Pawlenty: Don't touch my budget power
- Late summer Minn. primary? Get ready for it
StarTribune.com: Steals + Deals & Classifieds
Open positions!
A new career awaits. Look through thousands of listings to find your new job. Start now!
Save Money With E-mail Offers
Sign up to receive FYI Offers e-mail containing specials from local businesses.
Win tickets to see Minneapolis New Breed featuring Lamb Lays with Lion, Mad King Thomas and SuperGroup at The Southern Theater.Vita.mn presents an opening-night performance from Minneapolis New Breed featuring Lamb Lays with Lion, Mad King Thomas and SuperGroup at The Southern Theater on the Feb. 25. |
Comment on this story | Be the first to comment | Hide reader comments