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Friday P.M. Report

Man pleads guilty in $20 million mortgage fraud scheme, Regis stock drops on Q4 revenue, Sun Country makes list of top domestic airlines, and Target bumps up Shaun White shoes launch.

Man pleads guilty in $20 million mortgage fraud scheme: A Buffalo, Minn. man pleaded guilty Thursday over his involvement in a mortgage fraud scheme that lost at least $20 million for lenders, the Minnesota U.S. Attorney’s Office said. Richard Mathew Laho, 54, pleaded guilty in federal court to one count of mail fraud, a felony that carries a penalty of up to 20 years in prison. Prosecutors said Laho admitting taking part in a Naples, Fla. real estate deal in March and April of 2007 that bilked the mortgage lender out of as much as $690,000. Read full story

Regis stock drops on Q4 revenue, sales decline: Hair care company Regis Corp. missed revenue estimates for the fourth quarter, as same-store sales slipped by 2.7 percent, according to preliminary sales results released today. Shares of Edina-based Regis were selling around $14.10 per share in midday trading, down $1.63, or roughly 10 percent, from Thursday’s closing price of $15.73 per share. Read full story

Sun Country makes list of top domestic airlines: Travel+Leisure has named Sun Country Airlines one of the best in the United States, the company said today. Sun Country placed sixth on the list, to be published in the magazine’s August issue. It’s the fifth consecutive year that the Mendota Heights-based domestic carrier has made the Top 10 list, ranked by reader surveys. Read full story

Target bumps up Shaun White shoes launch: Snowboarding’s Shaun White will debut his shoe line at Target next week. Three skate and lifestyle shoe styles (boys’ and men’s sizes only) will be available online and in stores next week. That’s sooner than an earlier announced release date of early fall. Four more styles will be available exclusively online in August. White, a professional skateboarder and two-time Olympic medalist in snowboarding, has partnered with Target before, launching two lines of clothing. Read full story