One of the largest alleged financial crime cases in Utah history has taken a tortuous path to the trial set to begin Monday.
Eight years after former Utah County real estate investment guru Rick Koerber was first indicted, jury selection is scheduled to begin before U.S. District Judge Robert Shelby.
Koerber, 44, is facing possible prison sentences if he’s convicted on any of 18 charges tied to allegations that he ran a Ponzi scheme that took in about $100 million on promises of returns as high as 5 percent a month.
About half of that total was used to pay back investors, and when the enterprise stopped making payments in 2007, investors were owed about $47 million, according to a January indictment.