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January 29, 2009
A Minnesota man stole identities to run a million-dollar mortgage fraud scheme through three mortgage companies he operated, including one on the Internet. He was sentenced to more than seven years in prison.
John M. Rubischko, 37, pleaded guilty to one count of wire fraud and one count of aggravated identity theft, in a $1.8 million mortgage scheme that spanned four years. Rubischko did business as a mortgage broker through Family First Mortgage, All Fund Mortgage and MortgageBanc.us.
Officials say he paid bank employees to falsify documents, misapply money from bank loans and credit transactions, and conceal the identity theft. He also used his mother’s name to buy a Prior Lake property, according to the plea.
Read stories at MN Sun and The Star Tribune
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