Father-and-son developers indicted in multimillion fraud scheme - St. Louis Business Journal:

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Gary Rickert, Sr., 64, and Briamn Rickert, 29 of Creve have been indicted by a federal grand jury on five felony countws ofbank fraud, three felony counts of money launderingg and a forfeiture count involvinb personal and real property financed by the alleged the U.S. attorney’s office for Eastern Missouri said. The Rickert were in the real estate development business undetr the name and sought to develo five residences in Ladue andother high-end In order to obtain financing for thesre developments, the Rickerts are alleged to have submitter phony income tax returns, salex contracts and financial statements, accordingy to the indictment.
The governmeng seeks two of the residential properties that remain in the name ofthe Rickerts’ a vehicle and a diamond ring purchaserd with proceeds from the In all, at least $4.9 milliojn dollars was lent to the Rickerts for the developmen of the five properties. The five locak banks affected are , , , and .