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Wisconsin Man Indicted for $35 Million Bank Fraud Scheme

MINNEAPOLIS – A Wisconsin man has been indicted for orchestrating a $35 million bank fraud scheme, announced U.S. Attorney Andrew M. Luger. According to court documents, between 2020 and August 2022, Matthew Thomas Onofrio, 31, of Eau Claire, devised and executed a scheme to defraud multiple federally-insured banks including MidCountry Bank headquartered in Bloomington. As part of his scheme, Onofrio operated a business entity called Northwoods Management LLC which he used to market a real estate investing program for investors to acquire commercial properties. Onofrio allegedly engaged in several fraudulent acts as part of the scheme, including causing false information

The post Wisconsin Man Indicted for $35 Million Bank Fraud Scheme appeared first on Shore News Network.

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