Rick Koerber, CEO of Franklin Squires arraigned in Federal Court in Salt Lake City, Utah, Robert Paisola Reports

For Immediate Release
by: Robert Paisola
Copyright 2009 Western Capital Multimedia, All Rights Reserved
801-619-4700

SALT LAKE CITY, UT. — Appearing upbeat and with a big smile, Rick Koerber, the CEO of Franklin Squires Companies left the Federal Courthouse in Salt Lake City, Utah flanked by his attorney Mr. Jerry Mooney, a Salt Lake City lawyer and past president of the First Amendment Lawyers Association, his wife and his personal assistant, eager to chat with the media. This is the first public appearance since Claud R. Koerber was charged in a three count indictment last month.

Federal prosecutors charged Koerber, the President and Chief Executive Officer of The Franklin Squires Real Estate and Financial investment Company, with operating a Ponzi Scheme, claiming to have reached 100 Million Dollars at its prime.

Koerber followed suit with the United States Attorney in Utah, Brett Tolman, held a news conference to announce the return of a grand jury indictment charging Koerber. Koerber then determined that he would hold his own press conference from the luxurious Grand America Hotel, in Salt Lake City.

Watch the Full Press Conference Live Here.



The Official Rick Koerber Franklin Squires Indictment Video by Robert Paisola


In the courtroom, flanked by U.S. Marshals, Koerber rocked back and forth, staring at U.S. Magistrate Alba as he carefully enunciated the charge against him. He asked him if he was, in fact, the Claud R. Koerber suspected of the crimes, and he said, "Yes."

After stating his claim of NOT GUILTY, Koerber was then provided with a list of restrictions outlined on the Order Setting Conditions of Release that he can not violate, including the requirement that he turn in his United States Passport, Maintain or actively seek employment, Maintain residence and do not change without prior permission of Pretrial Services, No travel outside the State of Utah without prior written permission of Pretrial Services, avoid all contact with the following named persons who are considered either alleged victims or Potential Witnesses (NO NAMES PROVIDED ON COURT ORDER) (WHERE ARE THE VICTIMS AND WITNESSES?) refrain from possessing a firearm, destructive device or other dangerous weapon, to obtain no additional passport, and to report on a regular basis to the supervising officer as directed, and was ordered to be processed and released by the United States Marshals.

If convicted on the federal charges, Koerber could spend a maximum of 45 years in federal prison and face a large fine.

The United States Attorney in Charge of the case turned over 7 DVD's containing the evidence that will be used to support the charges that were primarily indexed by Koerber on the first 5 disks at an estimated personal cost of $80,000.00 to his firm .

Outside the courthouse, Attorney Jerry Mooney, called this a "complex Financial Case" and carried with him what appeared to be the 7 DVD's of data that was presented in court, partially prepared by Koerber!

Koerber commented in an exclusive interview with Robert Paisola of Western Capital Multimedia

"I am eager to have my day in court and I am convinced that upon presentation of the evidence against me that I will be fully vindicated, he continued, "It truly amazes me that the data that we were given today is partially the same data that I provided the State of Utah in my own defense!" he concluded by stating " Where are the Victims? Where are the Witnesses?" The judge himself gave me a document that you have Rob, that states on page 2, paragraph 7(D)not to have contact with the Victims or Witnesses.... but there are no names"

Could that be why there are no victims listed in the indictment?

Koerber stated that he has hundreds of hours of Audio, Video and Documented data that we were privy to prior to the indictment. WCM has not seen the investigative data that was presented at today's hearing.

Koerber will appear in court again on August 31, 2009 .