St. Louis IRS Worker Sentenced for Fraud

5 years 2 weeks 4 days ago March 09, 2012 Mar 9, 2012 Friday, March 09 2012 Friday, March 09, 2012 7:00:49 AM CST in News
By: Associated Press

ST. LOUIS (AP) - A former Internal Revenue Service employee from the St. Louis area has been sentenced to six years in prison for defrauding clients out of millions of dollars in a Ponzi scheme.

Federal prosecutors say 64-year-old Richard Saunders was also ordered at sentencing Thursday to pay back the victims. He must also pay back $446,000 to the IRS.

Saunders operated a scheme in which investors were promised guaranteed returns based on off-shore annuities. But authorities say he used much of the money for personal use.

Saunders left the U.S. in 2008 and moved to Thailand without paying investors. He was deported from Thailand and returned to the U.S. early last year.

Saunders was also sentenced to five years in prison, to run concurrently, for tax evasion.

 

More News

Grid
List
KANSAS CITY, Mo . (AP) — Students at a Kansas City-area high school are being evacuated as authorities investigate a... More >>
1 hour ago March 27, 2017 Mar 27, 2017 Monday, March 27 2017 Monday, March 27, 2017 11:43:48 AM CDT in News
COLUMBIA - A Columbia man was arrested Sunday evening on suspicion of first-degree burglary. CPD officers were dispatched to... More >>
15 hours ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 10:28:00 PM CDT in Top Stories
COLUMBIA - Columbia police arrested a man Sunday morning after he allegedly shot multiple rounds from his gun near the... More >>
18 hours ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 7:25:00 PM CDT in Top Stories
COLUMBIA Updated 7:05 p.m. - The Columbia Police Department said a second victim in the Sunday shooting on I-70 Drive... More >>
21 hours ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 4:18:00 PM CDT in Top Stories
COLUMBIA - During his time as athletic director at the University of Missouri Mike Alden oversaw a little bit of... More >>
22 hours ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 2:35:00 PM CDT in Sports
ST. LOUIS (AP) — About 1,000 of St. Louis' delinquent properties are expected to face the wrecking ball to create... More >>
1 day ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 1:13:10 PM CDT in News
OZARK, Mo . (AP) — A southwestern Missouri man is accused of sexual misconduct involving a teenager who investigators say... More >>
1 day ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 12:20:00 PM CDT in Continuous News
FORSYTH, Mo . (AP) — Authorities said a southern Missouri man told investigators he was either sleepwalking or dreaming when... More >>
1 day ago March 26, 2017 Mar 26, 2017 Sunday, March 26 2017 Sunday, March 26, 2017 10:25:00 AM CDT in News
COLUMBIA - Officers said a suspect is on the run after a robbery at an Extended Stay America Saturday night.... More >>
1 day ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 10:39:11 PM CDT in News
COLUMBIA - A hearing for Sturgeon Police Chief Greg Halderman will take place on Monday. On the week of... More >>
1 day ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 7:16:00 PM CDT in News
LINN - State Technical College in Linn opened up its campus to recruit prospective students and to show off what... More >>
1 day ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 4:49:00 PM CDT in News
UPDATED 3/27/17 10:53 a.m. The Boone County Sheriff's Department notified the Moniteau County Sheriff's Department of a missing person.... More >>
1 day ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 4:37:00 PM CDT in News
ST. LOUIS (AP) — Two men each are jailed on $750,000 bond after being accused in connection with the St.... More >>
1 day ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 3:38:00 PM CDT in News
COLUMBIA - Two semi trucks and two cars were part of a wreck Saturday that closed westbound I-70. The... More >>
1 day ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 3:23:00 PM CDT in Top Stories
JEFFERSON CITY, Mo. (AP) — The Republican-led Missouri Legislature will get back to a business-friendly agenda when it returns from... More >>
2 days ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 12:35:00 PM CDT in News
ST. LOUIS (AP) — A St. Louis man has been sentenced to life in prison without the possibility of parole... More >>
2 days ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 10:54:00 AM CDT in News
CLAYTON, Mo. (AP) — An activist who helped shut down a St. Louis-area freeway during protests commemorating the first anniversary... More >>
2 days ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 10:45:00 AM CDT in News
ST. LOUIS (AP) — St. Louis police say a 15-year-old boy was killed and six other people were critically wounded... More >>
2 days ago March 25, 2017 Mar 25, 2017 Saturday, March 25 2017 Saturday, March 25, 2017 10:41:00 AM CDT in News
Columbia, MO
Broken Clouds 52°
2pm 53°
3pm 55°
4pm 55°
5pm 55°

Select a station to view its upcoming schedule:

Coming Up Next

1:00p
Days of Our Lives
2:00p
The Dr. Oz Show
3:00p
Dr. Phil
1:00p
Maury
2:00p
Judge Alex
2:30p
Judge Alex

Tonight's Schedule

7:00p
The Voice
9:01p
Taken
7:00p
Supergirl
8:00p
Jane the Virgin
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld