St. Louis, MO – In a stunning turn of events, Paul Everett Creager, the 39-year-old Wildwood developer whose failed residential real estate business led to his guilty plea for fraud last December, now faces additional charges.
A Grand Jury in St. Louis has levied two counts of wire fraud against Creager, who operated under the aliases “Everett Builders” and “L and P Builders.”
The first count involves an individual investor identified as M.L., from whom Creager is alleged to have swindled over $2.5 million through fraudulent claims about his personal wealth, plans for investment funds, and M.L.’s exclusive partnership status.
According to the indictment, Creager was not a multi-millionaire but had previously filed for bankruptcy. He reportedly used M.L.’s money to purchase luxury goods, maintain an opulent lifestyle, and sold other equity positions in his business while borrowing heavily against it.
The second charge stems from a fraudulent affidavit at the closing of one of Creager’s homes in Kirkwood, where he falsely claimed that all subcontractors were paid. This was despite knowing he owed $30,000 to a storm drain subcontractor. After pocketing nearly $50,000, Creager refused to pay the subcontractor, leading to a mechanic’s lien being filed against the property.
The defendant now faces up to 20 years in prison for each of the wire fraud counts, in addition to the 20-year sentence he already faces for his previous guilty plea. The government is also pursuing restitution orders for all victims involved. The FBI’s St. Louis Division conducted the investigation, with Assistant U.S. Attorney Tom Albus representing the government.
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Key Facts
- State: Missouri
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Organized Crime
- Source: Official Source ↗
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