Ex-Gopher Charged with Felony After Sale of Apple Valley Home

Former University of Minnesota basketball star Sam Jacobson and his wife are facing felony charges involving the sale of an Apple Valley home.

Last week, the couple was charged in Dakota County with theft by false representation and theft by swindle for the sale of their Apple Valley home. Jacobson sold the home in August 2011 to then-girlfriend Traci Quam (now Traci Jacobson).

The Star Tribune reported that the transaction was a "short sale," meaning the house was worth less than what Sam Jacobson owed on it. The lender was forced to swallow the losses in the sale.

After selling the home to Quam, Jacobson was not allowed to live in the five-bedroom home. Another condition that said that the buyer and seller of the home must be unrelated parties.

Authorities say Jacobson and his three children did not move out after the sale to Quam, who quickly sold the home later in 2011 for $538,000, netting a profit of $176,000.

Read more at the Star Tribune.

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