A real estate agent who participated in an "egregious" kickback scheme that used fraudulent documents to obtain more than $10 million in mortgage loans was fined $50,000 and his real estate salesperson and insurance producer licenses were revoked last month, according to an order by the Minnesota Department of Commerce. Justin J. Christenson was employed by Split Rock Realty in Excelsior when he and others in the company and elsewhere encouraged buyers to purchase multiple properties, most of them excess builder inventory. The fraud ring used inflated appraisals, straw buyers and fraudulent loan applications to secure loans on at least 40 properties. Buyers received large kickbacks . The "vast majority" of the properties ended up in foreclosure. Read the Department of Commerce's order here.