UPDATE: Creager pleaded guilty on Thursday to two additional counts of wire fraud. He is scheduled to be sentenced at a later date.
UPDATE: Creager was sentenced to 60 months in prison on the charge he pleaded guilty to in December.
UPDATE: Glaser is facing three charges of wire fraud.
UPDATE: Creager is now facing two more charges of wire fraud, each of which could carry a 20-year sentence.
A West County man pleaded guilty Dec. 21 to a two-count federal indictment for soliciting more than $724,000 from two separate investors without properly disclosing his debt to those investors.
Paul Creager will be sentenced in March.
Standing in front of a stalled construction project Laurie Rao doesn't mince words.
“Our money was stolen from us,” said Rao.
Rao and her husband hired Creager to build a home in Kirkwood. She said Creager's business, Everett Builders, required 10 percent down on a project that was never finished. The couple is now out $107,000, and they're not the only victims.
The small mom and pop business owners who helped Creager build homes by sacrificing labor and material are also suffering.
Pam Decamargos said, “$90,998 he [Creager] owes us. It's our money, our three kids, our babies money.”
The Decamargos family said they put roofs and siding on homes built by Creager without getting paid. That's when they started investigating Creager's lifestyle.
“Brand new Bentleys, corvettes, he has. We see pictures of him at his lake house in this boat he doesn't have a worry in the world about us. He took our money and spent it,” said Decamargos.
In 2016, Creager's Bentley, among other nice cars, had an assessed value of $99,410, according to the St. Louis County Assessor's office. He paid $9,033.79 on those vehicles in personal property taxes.
During the same year, a lumber company received a $90,000 judgment against him. There was another $17,000 from a trash company and it only gets worse.
Gary Henley said he installed furnaces and air conditioners in as many as 11 homes built by Creager without getting paid. He claims Creager owes him $81,000 but for a 76-year-old man living in a south St. Louis County nursing home, his daughter said the situation is incomprehensible.
Frank Steinberger spent his entire career working for McDonnell Douglas, then retired from Boeing. Now he is worried about his financial future after his retirement money wound up in Creager's control, approximately $400,000. Steinberger said he has never even met Creager. His daughter says her dad suffers from dementia and that his longtime financial advisor convinced him to sign documents that shifted his life savings to Creager's control.
A record shows a wire disbursement to Everett Builders for $235,000.
Amy Swaminthan said her father's advisor, a man named Bill Glaser, convinced Steinberger to invest in Creager's business.
Now, Creager is facing a two-count federal indictment, which he pleaded guilty to Dec. 21.
He's accused of soliciting more than $724,000 from two separate investors without properly disclosing his debt to those investors.
According to federal investigators, those massive investments appear to have been "wiped out in less than one year." When News 4 caught up with Creager outside federal court, his attorney spoke on his behalf.
“We can’t comment, he's (Creager) under indictment and again not avoiding your questions,” said Ken Leeds, Creager’s attorney.
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