A federal grand jury in Utah this month brought more charges against an entrepreneur with ties to a proposed multi-million-dollar retail and condo project in Missoula. Aaron Wagner has now been indicted on 16 counts.
Wagner was arrested last month and charged with wire fraud after investigators say he defrauded investors in his restaurant business of at least $2 million. In early November, a grand jury added charges, including 10 counts of money laundering.
The indictment says Wagner and business partner Michael Mains lied to their investors and claimed their projects were big successes. In reality, investigators say, the pair would “siphon” investor money to themselves before calculating profits. They spent the funds on “personal investments,” including an $8 million down payment on the site of the former Missoulian newspaper building, according to the indictment. That property could be turned over to the federal government if Wagner is convicted.
Wagner pleaded not guilty and is set to stand trial in February. His lawyer told MTPR Wagner “looks forward to defending himself in court.”
Wagner purchased the property along the Clark Fork River with business partner Cole Bergquist, a former Griz football player. In a statement to MTPR, Bergquist said Wagner’s role was “solely focused on funding,” and said he didn’t have any information about where Wagner sourced his money.
Bergquist said he worked to remove Wagner from the development for “unrelated reasons” prior to Wagner’s arrest.
Redevelopment of the former Missoulian site is still underway, according to Bergquist.
