St. Louis Con Man Paul Creager Is Trading a Bentley for the Big House
A federal judge sentenced a St. Louis County scam artist today to five years in prison.
Paul Creager, the 39-year-old owner of shady construction firm, pleaded guilty in December to two counts of wire fraud. It was the first of two federal criminal cases against the builder, who lived the high life while ripping off investors.
As part of Creager's plea, he admitted in court that he faked financial records to con two of his marks out of $724,000. The records papered over the fact that Creager's business owed a massive debt to another lender, making the new investments essentially worthless — the original lender had dibs on virtually all of his assets, prosecutors say.
When Creager's company failed, the lender foreclosed, and Creager's victims were left out in the cold.
Read more: https://www.riverfronttimes.com/newsblog/2018/05/18/st-louis-con-man-paul-creager-is-trading-a-bentley-for-the-big-house