Two Garrett County Developers Indicted on $3.7M Fraud Scheme


GARRETT COUNTY, Md. According to officials with the U.S. District Court in Baltimore, two Garrett County developers have been indicted on a $3.7 million bank fraud scheme.

A federal grand jury indicted Samuel R. VanSickle, 49, of Accident, Md., and Louis W. Strosnider III, 47, of Oakland, Md., on charges related to a multi-million fraud conspiracy.

According to the six count indictment, VanSickle and Strosnider owned and developed property in Garrett County.

Officials say VanSickle controlled a mailbox at an address in Accident where he also rented a post office box. They say VanSickle used a number of different business names, including Freedom Church, Gospel Church, and Unity Mortgage. He also went under a number of different alias names.

Strosnider operated Stony Brook Development Company LLC, in McHenry.

The indictment alleges from December 2001 through June 2004 VanSickle and Strosnider comprised a scheme to fraudulently obtain money and property from financial institutions through false names, and inflating the value of the properties through fraudulent loans and mortgages.

According to Assistant United States Attorney Joyce McDonald, who is prosecuting the case, an indictment is not a finding of guilt. VanSickle and Strosnider have been charged, but are innocent until proven guilty.

The two men have not been taken into custody, or processed at this time. An initial appearance has been scheduled for February 28, 2014 in U.S. District Court in Baltimore

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