MINNEAPOLIS—Earlier today in federal
court, a 57-year-old Lakeville man pleaded guilty to obtaining fraudulently
more than $1.4 million in loans from four different banks. Kevin A. Dahl
pleaded guilty to one count of bank fraud in connection to this crime. Dahl,
who was charged on July 10, 2012, entered his plea before United States
District Court Judge John R. Tunheim.
In his plea agreement, Dahl admitted
that from February 6, 2007, through February 1, 2008, he submitted false
applications and supporting documents for loans he sought from various banks.
In the applications, he specifically overstated his assets, representing that
he had assets worth more than $9 million, when that was not the case. Because
of his fraudulent representations, Dahl obtained more than $1.4 million in
total from Lake Area Bank, First National Bank of Northfield, Voyager Bank, and
Community Banks of Colorado.
For his crime, Dahl faces a potential
maximum penalty of 30 years in prison. Judge Tunheim will determine his
sentence at a future hearing, yet to be scheduled. This case is the result of
an investigation by the Federal Bureau of Investigation. It is being prosecuted
by Assistant U.S. Attorneys Robert M. Lewis and Kimberly A. Svendsen.
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