Alachua Survey Co. Owner Sentenced for Loan Fraud

Matthew G. Munksgard, 41, of Archer, Florida, is headed to federal prison for 30 months after being convicted of falsifying land survey contracts to steal more than $150,000 in bank loans. The owner of an Alachua County surveying company was sentenced yesterday on four counts of making false statements to a federally insured institution and one count of aggravated identity theft, capping a years-long scheme that unraveled when bank investigators caught the lies.

At trial, federal prosecutors laid out how Munksgard secured four separate lines of credit from Drummond Community Bank, with each loan ranging from $30,000 to $60,000. He pledged survey contracts as collateral, telling bank officials he’d repay the money once clients paid him for completed work. But when the loans came due, Munksgard claimed delays. The bank, growing suspicious, reached out to two of his supposed clients—only to find no contracts existed.

Munksgard then admitted the truth: all four contracts were fabricated. No work had been done. No clients had signed. The documents were pure fiction, forged to maintain a flow of cash from the bank. He was convicted on September 15, 2016, after a trial that exposed a calculated fraud targeting one of the region’s community financial institutions.

“Truthful loan applications are essential to the determination of credit worthiness in maintaining a sound banking industry,” said U.S. Attorney Christopher P. Canova, who announced the sentence. “Therefore, we will vigorously prosecute those who make false statements to obtain loans.” His office emphasized that even smaller-scale frauds erode public trust and strain local banks that serve everyday Floridians.

Charles P. Spencer, Special Agent in Charge of the FBI Jacksonville Division, underscored the broader danger: “Financial fraud has the potential to cause immeasurable damage to our community. The FBI will continue to work alongside our law enforcement partners to identify, stop, and punish those who commit fraud schemes that impact our financial institutions.” The FBI’s investigation peeled back layers of deception tied to Munksgard’s business operations.

The case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant United States Attorney Herbert S. Lindsey. Court records are available through the U.S. District Court for the Northern District of Florida. For media inquiries, contact Amy Alexander, Public Information Officer, at (850) 216-3854 or amy.alexander@usdoj.gov.