St. Louis Man Indicted on Wire Fraud Charges
St. Louis, MO – David E. Schultz, 50, of Saint Louis County, Missouri, was indicted on two counts of wire fraud. According to the Indictment, Schultz induced victims into giving him or his son money or merchandise in exchange for services he claimed capable of providing or on the promise that he would repay the money to individuals after he received a financial settlement or was able to access money in off shore accounts. According to the Indictment, it was part of Schultz’s scheme to defraud that Schultz found victims that had criminal histories and made false promises and false representations to them about his connections with area law firms, judges, attorneys, companies, etc. to lure victims into providing him money for his assistance with their precarious situations.
An example, according to the Indictment, was that David Schultz developed a relationship with victim R.R. Victim R.R. was a St. Louis pharmacist whose pharmacology license was suspended for two years. David Schultz falsely represented to Victim R.R. that he was a non-practicing attorney who worked closely with a Saint Louis area attorney. Schultz told R.R. that in exchange for payments, he would be able to obtain a “Letter of Exoneration” from the Missouri Board of Pharmacy and broker a lucrative lab-testing contract with the Missouri Department of Corrections. Victim R.R. paid David Schultz for services which were never provided.
Another example, according to the Indictment, was that David Schultz developed a relationship with Victim D.G. Victim D.G. was convicted of health care fraud in the Eastern District of Missouri. David Schultz represented to Victim D.G. that he would have his conviction “expunged” and falsely represented that he was in close contact with the Federal District Court Judge who sentenced Victim D.G. Victim D.G. paid David Schultz for services which were never provided.
Another example, according to the Indictment, was that David Schultz developed a relationship with Victim R.J.. Victim R.J. was a former cardiologist convicted of health care fraud in the Eastern District of Missouri. David Schultz falsely represented to Victim R.J. that he was working with attorneys to reinstate Victim R.J.’s medical license. David Schultz falsely represented to Victim R.J. that in exchange for payments, he would pay his personal attorney to secure “immunity” for Victim R.J. Additionally, David Schultz represented that he would pay attorneys to testify for R.J. during the medical license reinstate process; hire private investigators; make court-ordered restitution payments on R.J.’s behalf. Victim R.J. paid David Schultz for services which were never provided.
If convicted, Schultz faces up to 20 years imprisonment on each of two counts of wire fraud, a $250,000 fine or both. Restitution for the victims will also be sought.
The case was investigated by the FBI. Assistant United States Attorney Dianna Collins is prosecuting the case for the U.S. Attorney’s Office
As is always the case, charges set forth in an indictment are merely accusations and do not constitute proof of guilt. Every defendant is presumed to be innocent unless and until proven guilty.