Bank Fraud Lands St. Louis Businessman in Federal Prison

Megan Lynch

ST. LOUIS, Mo. (KMOX) – A St. Louis businessman will spend more than two years in federal prison for bank fraud.

The US Attorney’s Office says 46-year-old Richard Kalina has also been ordered to pay nearly a million dollars in restitution.

Earlier this year, Kalina admitted he refinanced millions of dollars worth of property, with the promise he’d pay overdue real estate taxes.  But the checks he eventually wrote were from accounts that had no funds.  Prosecutors say after he received paid tax receipts from the government, he would then stop payment on the checks.

Copyright KMOX Radio

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