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Mistrial declared after deadlocked jury in Koerber fraud case

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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. 

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