MINNEAPOLIS (WCCO) – A former Minneapolis loan officer was indicted Wednesday in Minneapolis Federal Court in connection with a $3 million mortgage fraud scheme that involved six properties.

Hannah Noel Perlich, 29, was charged with six counts of wire fraud and one count of conspiracy to commit wire fraud in connection with the crime.  She worked as a loan officer for St. Joseph’s Financial and Legacy Lending.

An indictment alleges that from 2005 to 2006, Perlich aided and abetted others, obtaining mortgage loan proceeds through fraud. In the scheme, the purpose was to obtain mortgage loans in much higher amounts than the purchasing price of the parties involved. That happened through inflated home appraisals and fraudulent underwriting and loan documents.

Perlich allegedly caused the false loan applications to be provided to lenders. Perpich also allegedly concealed payments to herself from the loan proceeds by diverting them to buyers and other co-conspirators.

Several other co-conspirators have already been sentenced for their roles in the scheme and others have recently been charged.

Perlich, if convicted, faces a maximum penalty of 20 years in prison on each charge.