A federal grand jury has indicted Robin Neil Snyder, 56, of Reisterstown, and Mortgage Bankers Ltd., based in Owings Mills, on wire fraud and money laundering charges arising from a scheme to defraud commercial loan applicants, federal prosecutors said.

From about March 2002 to January 2006, Snyder used Web sites to advertise and solicit customers for his lending businesses and promote Mortgage Bankers as a commercial lender capable of providing “difficult” or “impossible” loans anywhere in the United States in amounts up to $300 million, prosecutors said.

In fact, Snyder had insufficient funds available to lend and had not located other lending sources, according to prosecutors.

According to last week’s indictment, loan applicants were required to pay a nonrefundable “mortgage origination fee” and a “conditional commitment fee,” according to the Maryland U.S. Attorney’s Office.

The scheme netted Snyder about $339,500 in advance fees, prosecutors said.