BISMARCK, N.D. — Sentencing is set for one of four people charged in the
case of a defunct Arizona mortgage lender accused of swindling Bismarck-based
BNC National Bank out of about $27 million.
Authorities said 69-year-old David Kaufman lied to investigators when he was
questioned about his role as an independent auditor. He pleaded guilty to
obstruction of justice.
Three executives with American Mortgage Specialists Inc. also are charged in
the case. AMS allegedly defrauded the bank by providing it with false financial
statements and other information about the status of loans the bank had
Sentencing is scheduled for Monday in Bismarck. Kaufman will appear via video
from Arizona. He faces a maximum sentence of 10 years in prison.