MINNEAPOLIS - A 57-year-old Lakeville man appeared in court Tuesday on charges of fraudulently obtaining more than $1.4 million in loans from four different banks.
Kevin A. Dahl submitted false applications and supporting documents to the banks between the dates of Feb. 6, 2007 and Feb. 1, 2008, according to court documents.
In the applications, Dahl specifically overstated his assets, representing that he had assets worth more than $9 million, when that was not the case, prosecutors said.
Dahl received more than $1.4 million in total from Lake Area Bank, First National Bank of Northfield, Voyager Bank and Community Banks of Colorado, according to court documents.
If convicted, Dahl faces a potential maximum penalty of 30 years in prison.
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