Businessman accused in massive fraud ...

Businessman accused in massive fraud getting a divorce

There are 4 comments on the Salt Lake Tribune story from Nov 6, 2009, titled Businessman accused in massive fraud getting a divorce. In it, Salt Lake Tribune reports that:

Rick Koerber and wife, Michelle, hold hands as they leave the Federal Courthouse in mid-June after Rick Koerber was arraigned on a federal criminal indictment that charges he ran a large fraud operation in Utah County that took in at at least $100 million from investors.

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Myrand Juniper

Plymouth, MN

#1 Jan 7, 2010
Rick Koerber's divorce is phony. I mean I'm sure they really are getting divorced but it's just being done to help shield family assets, which of course he obtained as a result of defrauding investors in his complex ponzi scheme.

Frankly I don't think it will work in the end because Michelle was complicit in the fraud and I'm confident that her role will eventually be exposed in the upcoming criminal proceedings.

The degree of her culpability isn't fully known yet, but she was definitely participating in questionable dealings including, at least, paying off assessors for jacked up property values (as much as 40% more than some of the properties actual value from what I have heard). She was reported in on much of that part of the business.

This was a family fraud and both of the Koerber's should be held liable, although I don't doubt that her culpability is less than that of Rick's. However as I understand it she is still not cooperating with the investigation. I say throw the book at her too and don't let the Koerber's keep a damn dime. The kids can go live with extended family or be placed in foster care once the crooks are behind bars where they belong. Michelle too can live with family if she manages to escape Jail.
jeff

Keene, TX

#2 Jun 19, 2010
you are one sad little person aren't you. I lost a lot of money from investing with Rick, but it was my choice. I lost more money in my 401k last year. should I throw the book at the government for creating the 401k?
gnostic eye

Riverton, UT

#3 Nov 2, 2010
jeff wrote:
you are one sad little person aren't you. I lost a lot of money from investing with Rick, but it was my choice. I lost more money in my 401k last year. should I throw the book at the government for creating the 401k?
Jeff, look at what you just said and ask any reasonable person if it makes sense.... you are still under a delusion..... seek help before you gain anymore wealth.....
100 Million vs 2 Million

Salt Lake City, UT

#4 Nov 2, 2010
This makes the recent Navajo slush fund accusations look like a bag of peanuts. Wow, 100 million $$$. They stashed it here and there, like Imelda Marcos. Maybe that's why she isn't asking for any money, cuz she has her private stash somewhere. Just goes to show whites are more greedy than others.

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