SALT LAKE CITY -- A federal grand jury in Salt Lake City has handed up a new indictment against an Alpine man charged with running a $100 million Ponzi scheme.
Claude R. Koerber's indictment on 20 counts of investment and tax fraud was made public on Thursday. Koerber originally pleaded not guilty in 2009 to a 22-count indictment.
Federal prosecutors say Koerber ran an investment scheme from 2004 to 2008 and used more than $100 million in loans and investment funds to make interest payments to early investors.
Utah's acting U.S. Attorney Carlie Christensen said in a statement that the new indictment consolidates some of the original charges and reflects a federal judge's decision to toss out one count.
A message left for Koerber's attorney, Marcus Mumford, was not returned by Thursday afternoon.