Former Park Rapids man faces 20 years in loan mortgage scheme
A former Park Rapids man pled guilty in federal court today to defrauding a mortgage company in a conspiracy to obtain a $640,000 home mortgage.
Eric Wayne Moen, 36, pleaded guilty in U.S. District Court in Minneapolis to a single count of conspiracy to commit wire fraud.
Moen, who was indicted Aug. 20, acknowledged he participated in a conspiracy to defraud GreenPoint Mortgage.
As a licensed realtor at the time, Moen and a co-defendant, Kevin Ray Winkelmann, 39, of Shorewood, falsified the loan application to get financing for a home. The conspiracy occurred during 2005, according to the U.S. Attorney.
The fraudulent application induced GreenPoint to wire the funds to pay for the home, prosecutors said.
Winkelmann pleaded guilty in the scheme last year and received a six-month prison term.
Moen, who faces a maximum of 20 years, will be sentenced at a later date. He is believed to be residing in the Twin Cities currently.