Three former employees of now defunct Pierce Commercial Bank were sentenced to prison for their roles in a mortgage fraud scheme that contributed to the collapse of the financial institution.

According to the U.S. attorney’s office, the three conspirators repeatedly created fraudulent documents in loan files and provided false information to make the loans appear legitimate. Some of the employees were veterans of the mortgage industry and followed their conspiracy leader—Shawn Portmann—to PC Bank Home Loans, a subsidiary of Pierce Commercial Bank, when he offered them higher salaries.

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