Man indicted on fraud charges
A Mound man, who once had an office in Hudson, has been indicted by a federal grand jury for allegedly swindling more than $2.5 million in a real estate fraud scheme.
A Mound man, who once had an office in Hudson, has been indicted by a federal grand jury for allegedly swindling more than $2.5 million in a real estate fraud scheme.
Timothy Lynn Beliveau, 41, was charged with one count of conspiracy to commit mail fraud, two counts of mail fraud and nine counts of willful failure to account for and pay taxes.
According to court records, Beliveau allegedly devised a scheme to defraud vulnerable homeowners and induce investors to purchase the distressed homes at inflated prices.
Beliveau operated a mortgage brokerage firm called American Alliance Mortgage Group and had several Twin Cities area offices. According to a 2005 telephone directory the firm had an office at 594 Outpost Circle in the town of Hudson.
Tags: crime and courts, real estate, timothy beliveau, news, fraud
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