Local Developer Sentenced on Fraud Charges
|U.S. Attorney’s Office September 30, 2011|
ST. LOUIS—The United States Attorney’s Office announced today that a local home builder, Robert Shallenberger, was sentenced to 37 months in federal prison for bank fraud and ordered to pay back $4.9 million.
According to court documents, Shallenberger, who co-founded Highland Homes in 2001, used money loaned for and secured by one development, to build other projects in 2006 and 2007. He also misstated to a bank in 2007 about the number of pre-sold units in a St. Charles County development.
ROBERT SHALLENBERGER, St. Louis County, pled guilty in May to one felony count of conspiracy to commit bank fraud. He appeared today for sentencing before United States District Judge Jean C. Hamilton.
This case was investigated by the Federal Bureau of Investigation. Assistant United States Attorney Roger Keller handled the case for the U.S. Attorney’s Office.