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Utah federal grand jury has brought additional charges against entrepreneur Aaron Wagner, who was arrested last month for allegedly defrauding investors out of at least $2 million through his restaurant business. The new indictment includes 10 counts of money laundering, bringing the total number of charges to 16.

    According to investigators, Wagner and his business partner Michael Mains lied to their investors about the success of their projects, instead using investor funds for personal expenses, including an $8 million down payment on a property in Missoula. The indictment alleges that the pair would "siphon" investor money before calculating profits.

    Wagner's lawyer has stated that he will plead not guilty and defend himself in court. Wagner purchased the Missoula property with business partner Cole Bergquist, who claimed to have no knowledge of where Wagner sourced his funding. Bergquist said he worked to remove Wagner from the development prior to his arrest due to unrelated reasons.

    The redevelopment of the former Missoulian site is still underway, according to Bergquist. Wagner's trial is set for February.