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The former CEO of Lino Lakes, Minn.-based Community National Bank, William Sandison, was sentenced on fraud charges in connection to the financing of Ramsey Town Center, according to a May 27 news release from the U.S. Attorney's office.
Community National Bank failed in December 2010.
U.S. District Court Judge Patrick Schiltz sentenced Sandison to four months in prison and ordered him to pay a $30,000 fine on one count of conspiracy to defraud the U.S. He was indicted in April 2009 and pleaded guilty...