Builders charged in loan scheme

Eagan homebuilders Michael and Ardith Parish and their son-in-law Christopher Troup, along with Parish Marketing and Development, were charged last week in U.S. District Court in Minneapolis as part of an elaborate mortgage fraud scheme.

The charges involve conspiracy to commit mail fraud and carry up to a five-year prison sentence.

Michael Parish, Troup and the company also face money-laundering charges.

According to the complaint, the defendants were involved in a scheme involving as many as 50 mortgage lenders and $100 million in loans. As a result, many tenants and homebuyers in New Prague, Elko New Market and other area communities may be in danger of losing their homes.

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