Charges against Rick Koerber dropped

Posted at 8:42 PM, Aug 14, 2014
and last updated 2014-08-14 22:42:54-04

SALT LAKE CITY — All charges have been dropped against a Utah man charged in an alleged $48 million Ponzi scheme.

A federal judge dropped the case against the so-called “free capitalist” Rick Koerber because the U.S. Attorney’s Office violated the Speedy Trial Act.

It’s been more than 70 days since Koerber was charged, with no resolution in the case. The charges were dismissed in June, and now a judge has ruled federal authorities cannot re-file charges.

That makes Koerber a free man