MO Man sentenced to 11 years for Mortgage Fraud

Russell Todd McBride who was indicted on thirty four counts was sentenced today to eleven years in prison for his participation in a mortgage fraud scheme that involved residential properties in Sikeston, Missouri.

United States Attorney Michael W. Reap revealed that Russell McBride and his co-conspirator Robert Wrolstad recruited investors to purchase residential properties in Sikeston, Missouri. The residential properties were purchase well over the purchase price of the property. Mr. McBride and Wrolstad conducted this mortgage fraud scheme from July of 2005 through November of 2006.

Mr. McBride and Mr. Wrolstad prior to Mr. McBride’s sentencing on November 16 both had previously pleaded guilty to the federal charges against them involving mortgage fraud earlier this year.

Mr. Wrolstad was due to appear for sentencing on Tuesday, November 17.