An Alpine man accused of defrauding investors in a multimillion-dollar pyramid scheme denies wrongdoing and vows to vigorously defend himself.

Rick Koerber, a self-described free capitalist who was a big contributor to the pro-school voucher campaign in 2007, was indicted Tuesday on one count each of mail fraud, wire fraud and tax evasion. "I'm looking forward to my day in court," Koerber, 36, said Wednesday. "When all is said and done, the facts will come out."

Koerber operates a group of companies, including Founders Capital, under the umbrella of Provo-based Franklin Squires Investments. The indictment alleges he collected more than $100 million from investors for a real estate-based program called the Equity Mill.

The money was to be loaned to companies associated with Founders Capital for real estate purchases, the indictment said. However, prosecutors allege most of the money was used for other purposes and that Founders Capital never made a profit.

Koerber, who gave seminars on Equity Mill, allegedly used more than $50 million for Ponzi-scheme payments to investors.

Tuesday's indictment adds to a dozen civil lawsuits Koerber already faced involving debt collection actions, contract disputes and alleged fraud.

In addition, the Utah Division of Securities spent years investigating Koerber's business dealings, part of a probe that became politically charged when legislators, concerned about the handling of Koerber's case and others, asked for a legislative audit of the division.

Rep. Carl Wimmer, R-Herriman, said he had been on Koerber's radio show and Koerber asked him if he could facilitate some meetings. Wimmer arranged a meeting between Koerber and Attorney General Mark Shurtleff and another with then-House Speaker Greg Curtis, R-Sandy. Wimmer said he would do the same for any citizen.

Wimmer also arranged a meeting for Koerber with Kirk Torgensen, Shurtleff's chief deputy, who said that during the 40-minute meeting that Koerber insisted the investigation into his business was a witch hunt and would end with a civil rights lawsuit against the state.

Wimmer said he invested no money in Koerber's businesses and Koerber has given him no money, other than when he voluntarily bought hamburgers for re-election campaign workers late last year.

"I always wanted to stay completely above board with this guy," Wimmer said. "I knew he was under investigation, and I wasn't about to stick my neck out for somebody who may end up in the situation he was in."

Later, Wimmer said Rep. Jim Bird, R-West Jordan, in late 2007 asked him to join in requesting an audit of the Securities Division, and Wimmer did so. The audit found serious problems in the division's management, and its director left before the audit's completion.

"I need to make it very clear that Mr. Koerber and I are distant acquaintances. We're not friends. I don't defend him. I am appalled at what he's accused of doing," Wimmer said. "If he's found guilty he needs to pay for what he did."

The indictment said Koerber's actual expenditures included more than $850,000 invested in restaurants; $800,000 loaned to a Koerber associate to buy a restaurant; more than $1 million spent on expensive automobiles; and more than $5 million invested in movie making.

Koerber acknowledged putting money into restaurants and movies, saying Founders Capital "is in the business of making money by investing."

The Franklin Squires companies have struggled in the past few years with the economic downturn, Koerber added. Founders Capital owed creditors about $100 million a year and a half ago, he said, but it has reduced that debt to about $30 million and will pay it off.

Although federal prosecutors say there could be hundreds of victims, Koerber insists authorities will be unable to show he victimized anyone. The only complaints appear to be from people who listened to his radio show or went to his seminars, but then did business with others, he said.

Koerber said he feels the case has a silver lining. The Utah Department of Commerce has been investigating baseless allegations against him for a long time and he can now clear himself in court, he claimed. He previously told The Tribune that his legal troubles began with jealous real estate business people in Utah County who were losing money to his operations and encouraged state regulators to investigate him.

"Unless the government decides to drop the charges, I fully intend to see this through," he said.

Some investors tell a different story.

Tom and Peggy Tibbs' federal lawsuit alleges they lost more than $606,000 in one of Koerber's investment schemes after attending seminars in St. George in 2005.

The couple invested their money from 2005 to 2007 to be used to make loans to buyers of distressed properties priced below the parcels' market value. The Tibbses said they received promised interest payments of 3 percent through July 2007, believing they could withdraw their money at any time with 30 days notice. By August 2007, all payments ended, their suit alleges.

The Tibbses said they learned from state officials that their money was used to pay interest to several investors in the scheme -- including themselves.

In a 3rd District lawsuit, Debbie Hill said she signed a contract to buy a Taylorsville home from Koerber in July 2006. She alleges Koerber failed to disclose he had taken out loans against the property totaling $482,000.

Hill learned her home had gone into foreclosure in March 2008, despite giving Koerber a $50,000 down payment and never missing a mortgage payment.

"I've also been making extra payments for the past year," she said. "I'm just hoping I can work out something with the bank so I can stay in my home."

pmanson@sltrib.com

Tribune reporter Tom Harvey contributed to this story