SALT LAKE CITY, Utah (ABC4 Utah) – Judge declared a mistrial after deadlocked jury in a federal fraud case Monday.
Jury deliberations continued Monday morning in the trial of an Alpine man accused of running a Ponzi scheme.
Rick Koerber faced 14 counts of fraud, two counts of money laundering and two counts of tax evasion.
He was accused of using some of $100 million in investor money for houses, expensive cars and living expenses. His attorneys argued there was no deception or fraud and he simply ran a successful business.
The case was prosecuted by the U.S. Attorney’s Office in Utah and investigated by special agents of IRS-Criminal Investigation and the FBI. Prosecutors say they will review and consider things before deciding on another trial.