Ex-Myth Owner Sentenced
The former owner of the Myth nightclub in Maplewood, Minn., who pleaded guilty in August to bilking a local bank out of a $600,000 loan several years ago, was sentenced Dec. 7 to six months in jail.
Mike Ogren was also ordered to repay $688,333, complete 40 hours of community service and remain on probation for 20 years, according to Pioneer Press.
Ogren admitted to putting up shares of nightclub stock as security for the loan in 2008 even though the stock had been pledged twice before.
The nightclub shuttered in 2009 amid a financial spat between Ogren and then-partner Steve Sadowski with the venue’s parent company, Club Rage.
Ogren claimed he’d leased the club to the investor group, which he said was interested in eventually buying the club. But the group stopped paying its bills, so he evicted them.
Sadowski claimed he took over Myth to recoup a $3.5 million loan he made to Ogren for another business that failed.
Myth reopened under new management earlier this year, the paper said.