Man indicted for investment scheme graduated from SEMO

A St. Louis man who earned a degree in marketing in 1979 from Southeast Missouri State University was indicted Tuesday in U.S. District Court in connection with a $2 million investment scheme.

Rick D. Shirrell, 46, was indicted by a federal grand jury on three felony counts of wire fraud, 12 counts of engaging in monetary transactions in criminally derived property, and 11 counts of money laundering.

A grand jury returned the indictment March 25, according to the U.S. Attorney's office, but it remained sealed until Shirrell was arrested Tuesday.

Dr. Bert Kellerman, associate dean of the College of Business, said he was surprised to hear of Shirrell's indictment. Although it has been nearly 25 years since Shirrell graduated, Kellerman said he remembers that Rick Shirrell was one of a pair of twins -- Rick and Dick -- who were students at Southeast. He said he couldn't recall if he had Shirrell in class or just knew who he was, but he remembered him as an average student who seemed to have a good future ahead of him.

"It is a shock. I never would have expected anything like this," Kellerman said. "He always seemed like a nice young man. I certainly would not have predicted this 25 years ago."

If convicted, Shirrell faces a maximum penalty of five years in prison and/or a fine of $250,000 per count on the wire fraud charges; 10 years in prison and/or a fine of $250,000 per count on engaging in monetary transactions in criminally derived property, and 20 years in prison and/or a fine of $500,000 per count on the money laundering charges.

A university spokesman verified that Shirrell was a 1979 graduate, but said the office had no record of his living in Cape Girardeau prior to enrolling there. Their records indicate he is from St. Louis.

lredeffer@semissourian.com

335-6611, extension 160