St. Louis, Missouri developer Matthew Burghoff pleads guilty to asbestos violations and bank fraud
After pleading guilty to charges of bank fraud and asbestos violations in federal court, developer Matthew Burghoff could face as much as two and a half years prison time.
Burghoff admitted that he improperly removed asbestos from an historic St. Louis building, the Ford building. The building was to have been renovated for luxury condo development, but it has now been resold and plans for the building are unknown.
Burghoff also admitted that he fraudulently used loan money meant for commercial renovation to pay his personal bills and expenses. He attorney claims that Burghoff was a good businessman who fell victim to the suffering economy.
For the full story, go to the St. Louis Post-Dispatch.
