Missouri man sentenced in Sikeston mortgage fraud scheme
By Heartland News
CAPE GIRARDEAU, MO (KFVS) - A Creve Coeur man was sentenced to eleven years in prison for his role in a mortgage fraud scheme involving residential real estate in Sikeston.
Russell Todd McBride received that sentence in federal court on Monday, according to court documents. McBride worked for Century Mortgage and Finance, Inc., a company that provides mortgage-related services.
According to acting United States Attorney Michael W. Reap, McBride and his co-defendant, Robert Wrolstad, would recruit investors to buy properties in Sikeston for more than they were actually worth. The scheme occurred from at least July 2005 all the way through November 2006.
Both McBride and Wrolstad pleaded guilty to federal charges of committing mortgage fraud earlier this year. Wrolstad will be sentenced on Tuesday.
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