Franklin County Auction Owner Sentenced In Federal Court

June 21, 2017
By

MILLNERThe owner of a Franklin County auction company has been ordered to repay $3.2 million to former clients after pleading guilty to federal charges of bank and mail fraud.

Sentencing was handed down Tuesday in federal court in St. Louis for 77 year old Stuart B. Millner of Union.  Millner had pleaded guilty in February to bank and mail fraud charges and admitted misusing client money and making false statements on a $3 million bank loan.  As part of a plea bargain agreement, he was sentenced to one day in jail and order to repay his former clients.

Millner had owned Stuart B. Millner and Associates which appraised, marketed and auctioned off assets for industrial and commercial clients.  His clients believed that their money would be placed into a trust account, but the money was actually being used to pay debts owed to other clients for other auctions. Millner’s company was raided in August 2015 and he was charged in March of 2016.

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