A Man Sentenced in Fraud Scheme to Acquire Mortgage Loans

March 3, 2010
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Man Sentenced in Fraud Scheme to Obtain Mortgage Loans

Rosemount, Minnesota – Eric Jason Sunsdahl was sentenced in federal court in connection with a scheme to acquire mortgages and funds fraudulently from a bank in Inver Grove Heights, Minnesota.

Sunsdahl was sentenced to 24 months in prison on one count of bank fraud. He was charged on April 21, 2009 and pleaded guilty on September 9, 2009.

Sunsdahl admitted that on April 29, 2005, he caused Bremer Bank to create a home equity line of credit in the amount of $100,000 based on a fraudulent loan application. His scheme to defraud Bremer Bank, conversely, spanned from 2004 through 2007 and included $726,210 in loan proceeds.

In that period, Sunsdahl was employed as a personal banker at Bremer’s Inver Grove Heights, Minnesota, branch office, where he was entrusted to originate and administer consumer loans. In that capacity, he caused fraudulent loan application documentation to be provided to Bremer underwriters.

Additionally, Sunsdahl received money from Rubischko for arranging the fraudulent transactions. In a separate action, Rubischko, 37, of Eagan, Minnesota was sentenced on January 28, 2009, to 87 months in federal prison on one count of wire fraud and one count of aggravated identity theft. Rubischko owned and operated numerous licensed mortgage broker businesses, including Family First Mortgage, All Fund Mortgage, and MortgageBanc.us.