Utah real estate investor may be retried over alleged Ponzi scheme

November 03, 2017 01:06PM

Federal prosecutors intend to retry Utah investor Rick Koerber, accused of running a real estate Ponzi scheme. Jurors in his Oct. 16 eight-week trial were unable to reach a verdict, resulting in a mistrial, according to the Salt Lake Tribune. Prosecutors filed a motion this week requesting a scheduling hearing to set a new trial. The prosecution alleged that $100 million was entrusted to the defendant and over $50 million was redistributed to other investors. Despite the time and cost involved in retrying the case, U.S. Attorney for Utah John Huber said, “it is the right thing to do.” [SLT]