West Linn, OR man awaits sentencing

Joel D. Surprenant, age 43, pleaded guilty to bank fraud in the United States District Court in Portland, Oregon.

Mr. Surprenant in his plea agreement admitted to submitting fraudulent information to receive a mortgage loan on a property in Hood River while working for Morgan Financial as a mortgage broker back in August of 2006. The property went into foreclosure as Mr. Surprenant never made payments on the mortgage loan. The cost to First Franklin Financial Corporation as a result of the fraudulently obtained loan was ninety-six thousand dollars.

Mr. Surprenant also admitted in his plea agreement to pulling the scheme on two other properties located in Bend, Oregon that he purchased in 2006. The loans were funded by Bank of America and the resulting lost to the bank was approximately one hundred forty-five thousand dollars.

Mr. Surprenant in his plea agreed to pay restitution for the losses.

He is scheduled to be sentenced as a result of his guilty plea on May 12th. He will be appearing before United States District Court Judge Robert E. Jones. He is facing a maximum sentence of thirty years in prison and a maximum fine of one million dollars.