Man Sentenced for Stealing $300K From Deal He Agreed to Broker
John Pitlick, 44, New Hope, Minnesota, who had been charged with mail fraud, was sentenced on August 26, 2011, by Chief US District Judge Karen E. Schreier to 30 months in prison, three years of supervised release, $300,000 in restitution, and a $100 assessment to the Victim Assistance Fund.
Pitlick was indicted for mail fraud by a federal grand jury on September 8, 2010. Starting in April 2007, Pitlick represented that he would broker a loan from one South Dakota farming family to another South Dakota farming family. In reliance upon this representation, his victims transferred a total of $300,000 to Pitlick's business.
Pitlick received the funds, but no loan was ever made.
The funds were actually used by Pitlick for his own personal gain. Pitlick pled guilty to the indictment on June 2, 2011.
Pitlick was ordered to self report on September 19, 2011, to begin his prison sentence.
US Attorney Brendan V. Johnson announced the sentence.
This case was investigated by the FBI. Assistant US Attorney Kevin Koliner prosecuted the case.
Courtesy Mortgage Fraud Blog
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