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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