Wildwood Man Pleads Guilty To Wire Fraud

ST. LOUIS, MO — Paul Creager, a 39-year-old Wildwood man, pleaded guilty to two counts of wire fraud in federal court in St. Louis last week. He was accused of misrepresenting the financial health of his construction business and fraudulently soliciting almost three-quarters of a million dollars from two investors in 2016, the U.S. Attorney's Office for the Eastern District of Missouri said in a statement.

Creager admitted to prosecutors that he omitted his company's largest financial obligation from financial documents provided to the investors, making his company appear more profitable than it actually was. Only months later, Creager's company became insolvent and the investments worthless.

Creager faces up to two decades in prison, a $500,000 fine, and mandatory restitution.

Image via Shutterstock