Lawyer disbarred for mortgage fraud

Lawyer disbarred for mortgage fraud

March 23, 2012 at 11:22PM

A St. Paul attorney who pleaded guilty last year to federal felony charges for his role in flipping a house was disbarred by the Supreme Court on Thursday. The court also fined him $900.Richard A. Sand, a former White Bear Township board member, pleaded guilty in March 2011 to aiding and abetting wire fraud and money laundering. He was sentenced to 30 months in prison.A co-conspirator bought a house in Orono for $1.6 million in 2008 and sold it the same day to Sand's 86-year-old mother for $2.6 million. Sand, the seller and a closing agent used false documents to show that Sand's mother had sufficient funds to pay $600,000 down. Instead, they used funds from the closing to cover the downpayment.County records show the bank sold it in 2009 for $856,900.

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Jane Friedmann

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