Nearly three years after Michael Anthony Prieskorn disappeared, he was arrested Tuesday in Florida and accused of orchestrating one of Minnesota’s largest mortgage frauds.
Authorities said Prieskorn, 35, received more than $5 million from investors who bought some 70 homes in Minnesota and Florida.
In an indictment unsealed Tuesday, Prieskorn and Richard Mathew Laho, 54, of Buffalo, each were charged with 23 counts of wire fraud, one count of mail fraud and one count of conspiracy to commit wire fraud.
Each could face up to 20 years in prison on each wire fraud count.
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