Minnesota Mortgage Broker Pleads Not Guilty in State’s Largest Scam Ever

A man indicted for allegedly running one of the largest mortgage fraud schemes in state history pleaded not guilty Wednesday to the 27 charges filed against him in federal court in Minneapolis.

Michael Prieskorn, who cleared out his Minnetonka office in early 2007 and disappeared, returned to Minnesota and showed up in court wearing pinstriped suit and accompanied by a lawyer. A trial was set for May 3 in St. Paul before U.S. District Judge Paul Magnuson.

Prieskorn, 35, originally of Ellendale, Minn., has been free on a $75,000 bond secured by his girlfriend’s house

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