A federal grand jury indicted a Springfield businessman who is involved in business transactions in the Branson area. That indictment is for a series of bank fraud and wire fraud schemes.
Authorities arrested 57-year-old Richard Thomas Gregg of Springfield on Wednesday. He faces 4 counts of bank fraud, 10 counts of money laundering, two counts of wire fraud, and one count of bankruptcy fraud totaling more than $3 million in losses.
U.S. Attorney for the Western District of Missouri Tammy Dickinson says several local financial institutions suffered significant losses from a series of bank fraud schemes. The federal indictment alleges that Gregg’s actions led to losses at several financial institutions.
Gregg had ownership interest in Gregg – Wise Properties of Springfield, which transferred ownership of property near the junction of U.S. 65 and Highway 76, upon which a CVS Pharmacy is being developed, to Branson Professional Park L.L.C, who then sold the property to Missouri CVS Pharmacy. That transaction was completed in June of 2012 ending Missouri CVS Pharmacy financial involvement with Richard Gregg.
The Assistant U.S. Attorney’s office is prosecuting the case and the FDIC Office of Inspector General and IRS – Criminal Investigation office lead up the investigation.