ST. LOUIS (CN) – A real estate developer was sentenced to 27 months in federal prison for his role in a multi-million fraud. Brian Rickert, 30, helped his father, Gary, submit fraudulent loan applications for several high-end homes the two intended to rehab.
The men submitted phony applications, including fake tax returns and fake profit and loss statements for five loans at five different banks.
Brian Rickert will also have to pay more than $700,000 in restitution.
Gary Rickert will be sentenced on May 13.