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UTAH COUNTY -- Federal prosecutors have filed more charges against a Utah County businessman.
Rick Koerber, 36, of Highland now is facing 19 additional charges for allegedly failing to tell investors who poured more than $100 million into his real estate investment program that it wasn't earning a profit.
Nine of the new counts are for wire fraud.
Koerber was originally indicted in May on three charges of tax evasion, mail fraud and wire fraud.
Prosecutors say instead of returning a profit to investors, he was taking from some and giving back to others.
They also say he used some of the $100 million-plus in investors' funds in his FranklinSquires companies to pay for his house and expensive cars, including two Ferraris valued at more than $200,000 each.
So far he has adamantly denied running a Ponzi scheme.
