ST. LOUIS (AP) - Two Missouri businessmen are facing federal charges for allegedly defrauding several elderly customers out of about $3 million.
The U.S. Attorney's office in St. Louis on Wednesday said 45-year-old Robert Palmer of Kansas City and 50-year-old Mark Driver of St. Louis were both indicted by a federal grand jury on two counts each of mail and wire fraud.
The men owned Princeton Partnership LLC, based in St. Louis. Federal prosecutors say the financial services firm defrauded customers from 2004 through February 2010 by making false promises about how their money would be invested.
Authorities say all of the money given to Palmer and Driver were used for their personal expenses or for the company's operating expenses.
Neither man had a listed attorney.