Updated: Accounting Chair at Minnesota School of Business-Shakopee Sentenced for Fraud
Joseph W. Traxler, 64, will spend five years in prison for defrauding banks. He was terminated by MSB on Wednesday.
Minnesota School of Business (MSB)-Shakopee's accounting department chair was sentenced Tuesday to five years in prison for his role in defrauding banks to the tune of roughtly $8 million, according to a story in the Star Tribune today. Joseph W. Traxler, 64, was senior vice president and chief financial officer for the Centennial Mortgage and Funding Inc. mortgage company in Bloomington in 2007 and 2008, the Star Tribune story said. Traxler, of Bloomington, was sentenced in federal court in Minneapolis. Although Minnesota School of Business-Shakopee officials declined to comment to Patch on the matter Wednesday morning, MSB officials issued a statement later in the day saying Traxler was terminated on Wednesday. He had joined the staff of…
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