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Mound Man Indicted For Real Estate Fraud

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Oct 22, 2009 2:45 pm US/Central

Mound Man Indicted For Real Estate Fraud

Cole Premo
MOUND, Minn. (WCCO) ― A 41-year-old Mound man has been indicted by a federal grand jury for allegedly stealing more than $2.5 million in a real estate fraud scheme.

Timothy Lynn Beliveau has been charged with nine counts of willful failure to account for and pay taxes, two counts of mail fraud and one count of conspiracy to commit mail fraud.

The indictment alleges that Beliveau orchestrated a scheme to defraud helpless homeowners. This scheme helped Beliveau buy boats, motorcycles, a Florida vacation home and other private items.

Beliveau faces a potential maximum penalty in prison, if convicted, of 20 years for each of the two counts of mail fraud, five years for each of the 11 counts of willful failure to pay taxes and five years for conspiracy to commit mail fraud.

(© MMX, CBS Broadcasting Inc. All Rights Reserved.)

© MMX, CBS Broadcasting Inc. All Rights Reserved.