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Former real estate agent gets 15 years for mortgage fraud (KTTC Rochester)


A former Twin Cities real estate agent convicted of mortgage and identity fraud has been sentenced to 15 years in prison.

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MINNEAPOLIS (AP) -- A former Twin Cities real estate agent convicted of mortgage and identity fraud has been sentenced to 15 years in prison

Fifty-four-year-old Larry D

Maxwell could have been sentenced to about 10 years, but Judge Regina Chu said Thursday his "total lack of remorse" made the longer sentence appropriate

She also fined him $500,000

Maxwell must also pay full restitution to lenders for the $2 million worth of fraudulent loans

Prosecutors say Maxwell was the dealmaker in nine property deals stretching from Bloomington to Blaine, in which he obtained loans using fraudulent documents

Maxwell had argued that he was misled by others

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