Town & Country man admits faking Wal-Mart real estate deal
Ronald Roberts, 54, of Town & Country, pleaded guilty in federal court in St. Louis to a million-dollar loan fraud scheme.
He solicited personal loans for property in the Poplar Bluff area for a nonexistent real estate transaction, according to court documents. As part of the scheme, Roberts claimed that he planned to sell the property to Wal-Mart, which in reality was not involved at all, according to the U.S. Attorney’s Office for the Eastern District of Missouri.
Roberts, who pleaded guilty…
After losing big, Michael Roberts resurfaces to offer ‘secrets to success’
One of the Roberts brothers, high-profile developers and former St. Louis aldermen who lost numerous downtown properties and broadcasting assets in recent years, has resurfaced.
In a July 16 interview with Ebony Magazine, about money management called “The Millionaires’ Master Class,” Michael Roberts says he’s currently overseeing a $2 million “luxury renovation” of the Roberts Riverwalk Hotel and Conference Center in Detroit, part of assets totaling more than $225 million that he and…
Watch this ‘St. Louis Character’ on reality TV tonight
Last week’s print edition of the St. Louis Business Journal chronicled a “black American prince”, Jason Wilson, the owner of Northwest Coffee & Roasting as well as Chronicle Coffee, as our “St. Louis Character.” Tonight, you can watch him and several other St. Louisans on reality television with Lifetime’s “BAPS,” or Black American Princesses (and Princes).
The show, which premieres at 9 p.m. central time, is a docu-series that “pulls back the curtain on an exclusive, privileged…
Bankers send Congress a visual tutorial on crush of regulations
U.S. bankers are inundating Congress with an infographic detailing the burdens that federal regulation have imposed.
Among the revelations:
- A $70 million bank in Kansas has dedicated 3.5 of 25 employees — 15 percent — to compliance.
- Six percent of community banks have discontinued residential lending, and an additional 9 percent anticipate they will.
- Federal Reserve Governor Elizabeth Duke said “hiring one additional employee would reduce the return on assets by 23 basis points for…
IRS publishes new Streamlined Domestic Offshore Procedures
In a recent article in this space, I addressed the Foreign Bank Account Report (FBAR) and the impending impact of FATCA being fully implemented. The main message of that article was that foreign account holders who had not previously reported their foreign accounts needed to take action prior to the IRS obtaining the account information through FATCA. The Offshore Voluntary Disclosure Initiative (OVDI), while designed to allow non-reporting foreign account holders to come forward, had such an onerous…