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FOR IMMEDIATE RELEASE |
Jan. 16, 2007
MISSOURI CONTRACTOR PLEADS GUILTY IN KANSAS MORTGAGE FRAUD CASE
TOPEKA, KAN. – Jared Minor, 38, a construction contractor from Belton, Mo., pleaded guilty Wednesday to one count of conspiracy to commit bank fraud and money laundering.
In his plea, Minor admitted that during 2005, 2006 and 2007 he conspired with builder Steve Middleton of Stilwell, Kan., to defraud Bank of the Prairie by submitting false documents in order to obtain construction loans. In his plea, Minor admitted:
– He falsely represented the presentation of a $10,000 check to Somerset Homes as a down payment for a house at 18882 Travis Lane in Stilwell, Kan. In fact, there was no down payment and Middleton returned the check to Minor.
– He falsely represented to the bank that the purchase price was increased from $823,900 to $1,124,000, although he had no intention of paying that much.
– He caused a false mortgage pre-approval to be submitted to the bank saying he was qualified for a $950,000 loan at 7.5 percent interest.
Minor is set for sentencing April 28. He faces a maximum penalty of 30 years in federal prison and a fine up to $1 million. Middleton pleaded guilty last month to two counts of conspiracy to commit bank fraud. He is set for sentencing March 24.
U.S. Attorney Eric Melgren commended the Internal Revenue Service’s Office of Inspector General, the Housing and Urban Development’s Office of Inspector General, Assistant U.S. Attorney Richard Hathaway and Assistant U.S. Attorney Christine Kenney for their work on the case.
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