After Koerber’s first trial in U.S. District Court ended Oct. 16 with a deadlocked jury, prosecutors decided to retry him. A federal judge from New York, Frederic Block, will preside over the proceeding, which is expected to take eight weeks.
Koerber — a self-styled “free capitalist” and former Utah County real estate investment guru — was indicted in January 2017 on 18 charges of wire fraud, money laundering, tax evasion and fraud in the sale or offering of securities. The indictment says he took about $100 million from investors and used about half as interest payments, paying it back to investors to give the appearance of profitability, from 2004 to 2008.