Breaking: Minneapolis to join lawsuit against “fraudulent real estate scheme”

The city of Minneapolis will join with three north Minneapolis neighborhoods Wednesday to file a lawsuit against “a fraudulent real estate scheme” that has worsened the city’s foreclosure crisis, according to a press release from the mayor’s office.

The mayor’s spokesman, Jeremy Hanson, said in an e-mail the lawsuit will be filed against TJ Waconia in Hennepin County District Court. Mayor R.T. Rybak and members of the City Council are scheduled to appear at a press conference at 10 a.m. Wednesday at the office of the Folwell Neighborhood Association. Stay tuned for more details. …