Support Local Journalism. Join Riverfront Times Press Club.

Thursday, December 19, 2013

FBI: Ronald Roberts Steals $2.5 Million For Fake Walmart, Gambles it Away at Casino

Posted By on Thu, Dec 19, 2013 at 7:00 AM

WALMART CORPORATE ON FLICKR

Federal investigators say Ronald Roberts, 53, stole millions of dollars pretending to buy real estate for a future Walmart store and instead gambled the money away at a south county casino.

The FBI and the U.S. Postal Inspection Service are investigating the Town & Country man for three felony counts of wire fraud and one felony count of mail fraud. Roberts turned himself in Tuesday after a federal grand jury indicted him December 11.

Roberts stole $2.5 million from lenders by pretending he was buying land he would later sell to Walmart, says the U.S. attorney's office. He told victims he'd earn between $7 million and $22 million once the land became the site for Poplar Bluff's second Walmart, but instead he used the money for gambling at River City Casino.

Roberts' real estate transactions were made up, and the property he was pretending to buy is worth substantially less than he told lenders. There is no news of a second Walmart coming to Poplar Bluff.

See also: Two Bros Accused of Extraordinary Feat: Stealing $1,577 Worth of Booze from Walmart

If convicted, each fraud count carries a maximum penalty of 20 years in prison and/or fines up to $250,000. Assistant United States Attorney Richard E. Finneran is handling the case for the U.S. Attorney's Office.

Follow Lindsay Toler on Twitter at @StLouisLindsay. E-mail the author at Lindsay.Toler@RiverfrontTimes.com.

Tags: , ,

Support Local Journalism.
Join the Riverfront Times Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state. Our readers helped us continue this coverage in 2020, and we are so grateful for the support.

Help us keep this coverage going in 2021. Whether it's a one-time acknowledgement of this article or an ongoing membership pledge, your support goes to local-based reporting from our small but mighty team.

Join the Riverfront Times Club for as little as $5 a month.

Read the Digital Print Issue

June 16, 2021

View more issues

Newsletters

Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Best Things to Do In St. Louis

© 2021 Riverfront Times

Website powered by Foundation