Local Real Estate Developer Indicted on Bank Fraud Charges

ST. LOUIS, MO – August 13, 2010 – (RealEstateRama) — The United States Attorney’s Office announced today that John R. Steffen was indicted on fraud charges involving his scheme to defraud The Business Bank of St. Louis by pledging Brownfield Remediation Tax Credits as collateral on a loan, and selling them to use the proceeds for other projects.


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