Town and Country Business Owner Indicted for Fraud Charges

The owner of Omicron Capital, LLC, in Town and Country has been indicted by a federal grand jury for three felony counts of wire fraud, according to a release from the U.S. Attorney's office Thursday.

Richard Saddler, 43, owned Omicron, a company located at 1616 Featherstone Drive that assists in refinancing loans on a commercial and real estate level. The release said that Saddler, between January 2010 and March 31, 2012, used about $250,000 from five customers to finance his mortgage, airline tickets and other personal expenses. Saddler allegedly told his customers that their money acted as an appraisal or down payment.

The release added that wire fraud has a maximum penalty of 20 years in jail and up to a $250,000 fine if convicted.