St. Peters man sentenced after pleading guilty to bank fraud - KMOV.com

St. Peters man sentenced after pleading guilty to bank fraud

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ST. LOUIS, MO (KMOV.com) – A 50-year-old St. Peters man, Mark Avalos, was sentenced to five years probation on Monday and ordered to pay $497,000 in restitution after pleading guilty to bank fraud charges.

The charges stem from Avalos' work as a controller for The Mortgage Store (TMS) in 2008. Avalos pleaded guilty to a bank fraud charge relating to his involvement in a check kite in which the First Bank of the Lake lost approximately $850,000. Court records showed that Avalos made only his salary at TMS and did not share in the distributions and asset purchases which benefited Rauschelbach and York.

TMS was a major mortgage brokering business, and by 2008 it had offices in four states and hundreds of employees. Jason Rauschelbach and John York were the owners of TMS. Each of them pleaded guilty to a criminal conspiracy charge. Rauschelbach is presently serving a 24 month sentence and York is awaiting the designation of a prison facility where he will serve the 21 month sentence he received earlier this month.

During Avalos's sentencing United States District Judge Henry E. Autrey noted Avalos's cooperation throughout the criminal investigation.


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