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.
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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.
