Ladue: Real estate developer sentenced to prison in fraud scheme - KMOV.com

Ladue: Real estate developer sentenced to prison in fraud scheme

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By KMOV Web Producer By KMOV Web Producer

(KMOV.com) – A Creve Coeur man is heading to federal prison for his part in a multi-million dollar real estate fraud scheme.

Brian Rickert, 30, was sentenced to 27-months in prison for his role in a real estate development fraud scheme that took place in 2006 and 2007.
Prosecutors say Rickert assisted his father, Gary, in fraudulently obtaining financing for a number of high-end homes in Ladue and Town & Country that they intended to rehab. 
According to a news release from prosecutors, the Rickerts submitted fraudulent loan applications - including phony tax returns and profit/loss statements - for five different loans at five different area financial institutions.  In addition to his prison sentence, Rickert was ordered to pay in excess of $700,000 in criminal restitution.  Gary Rickert will be sentenced on May 13th. 
The case was investigated by the IRS-Crimnal Investigation and the U.S. Secret Service.  Assistant United States Attorney Tom Albus handled the case for the U.S. Attorney's Office.

 

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