Ross William Sandison
Ross William Sandison was sentenced in early August 2010 for conspiracy to commit mail fraud. He had faced 29 charges; the other 28 charges were dropped in a plea bargain. Former vice president and shareholder at Community National Bank in North Branch, Minnesota, Sandison must pay a $30,000 fine.
Along with two other former bank executives, Ross William Sandison originally faced a federal indictment of 29 charges issued in April 2009. All the charges but one were dropped later that year in a plea deal.
According to the federal indictment, in 2003, Community National Bank solicited 19 other financial institutions to participate in financing the Ramsey Town Center development—a 320-acre, mixed-use development in Ramsey, Minnesota—by lending $35 million with the option of extending another $15 million. Community National Bank acted as the lead bank for the loan.
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