Michelle and Rick Koerber Confirm Divorce, Robert Paisola Reports

An open note:

Why this has any bearing on what Koerber is going through is beyond our understanding. He is a public figure, and he openly states that this is an uncontested divorce. Why do we have to drag someone down even farther than they are... Just a thought..

This is a STORY from The Salt Lake Tribune. This is NOT a Western Capital Multimedia Story and we take no part in this stories creation. This is completely irrelevant to the facts of the Rick Koerber and Franklin Squires Matter.

Provo » Rick Koerber, the Utah County businessman accused of running a huge real estate fraud, and wife Michelle are divorcing.

The Koerbers filed a joint petition and accompanying documents late last month, waived a 90-day waiting period and are waiting a judge's signature to finalize the divorce, according to 4th District Court records in Provo.

Koerber declined to comment Tuesday except to confirm that "Michelle and I are finishing up an uncontested divorce."

Koerber is facing fraud and tax-evasion charges in federal court in Salt Lake City. He's accused of enticing investors into his real estate investment operations grouped around FranklinSquires Cos. The May indictment alleges that about half of at least $100 million of investor money was used to make payments to other investors in what prosecutors say was a Ponzi scheme.

Koerber vigorously denies the allegations and intends to contest them in court.

Michelle Koerber also declined comment Tuesday on the divorce when reached by telephone. But later, after speaking to Koerber, she called back to say she will continue to support her husband and believes in his innocence.

"I support him 100 percent in this fight he's making," she said. "I claim that he's innocent. I think that he's innocent. I'd stand up for him in a heartbeat."

Rick Koerber, too, said he expects Michelle will continue to support him.

The couple were married in 1999 in Colorado and have three children, ages 4 and under.

In their petition to the court, the couple agreed to share custody of the children but with Rick Koerber having physical custody and Michelle to have substantial time with them.

No alimony was sought.

Rick Koerber claimed an income of $3,250 a month from KF Reserve LLC and Western States Restaurants LLC. Both are companies in which he apparently has an ownership interest.

According to Department of Commerce records, KF Reserve is the successor company of Franklin Squires Investments, a company registered in 2003 by the Koerbers.

In registration documents filed with the state in July, Michelle Koerber and Jewel Kimber Skousen, an employee of Rick Koerber's Free Capitalist Project, are listed as managers of Western States Restaurants. Michelle Koerber, however, was removed as a manager in an Oct. 12 filing, 10 days before the couple filed for divorce.