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You are here: Home / News / St. Louis developer charged with bank fraud

St. Louis developer charged with bank fraud

May 10, 2011 By Jessica Machetta

New federal bank fraud charges have been filed against St. Louis developer John Steffen who got a lot of tax credits for major rehabilitation projects in the downtown area. Steffen is charged with selling $827,000 in tax credits to a bank after using those tax credits as collateral for a loan from another bank. A judge threw out similar charges against Steffen. The federal prosecutor says the latest charges are a better restatement of the case against Steffen.

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