Jerrick Hawkins, 28, of St. Louis, pleaded guilty Wednesday to one felony count of bank fraud and two felony counts of making false statements.

The charges involve a scheme to defraud lenders by submitting false information on real estate loan applications, according to the U.S. Attorney’s Office.

Most of the loans made as part of the scheme went into default after borrowers didn’t make their payments. The scam resulted in more than $1 million in losses to financial institutions, the U.S. Attorney’s Office said.