A St. Louis real estate company owner has been indicted on a federal bank fraud charge for allegedly helping to bilk a bank out of more than $100,000 the U.S. Attorney's office said Tuesday.

Samuel Glasser, 65, owner of Samuel & Company LLC, and Matthew Burghoff, owner of Mambo Development LLC, used false and inflated bills to defraud Montgomery Bank, federal prosecutors said.

Burghoff had received a loan to buy and rehab the Ford Building at 1405 Pine Street in St. Louis and Glasser agreed to do the interior demolition work, including lead and asbestos abatement, for $378,000, Glasser's indictment says. But after Glasser and Burghoff agreed to submit bogus bills to the bank, the demolition price ballooned to $578,000, the indictment says. Glasser kicked back $133,000 to Burghoff or Mambo, prosecutors said.

Glasser was indicted May 26 but the indictment was sealed until Glasser's arrest Monday.

"I fully anticipate that this will be a trial," Glasser lawyer Scott Rosenblum said. "Mr. Glaaser was without scienter," he said, meaning "intent to commit any fraud." "We're anxious for the facts to come out in this case," he said.

Burghoff was sentenced Dec. 19, 2008 to two years in prison for bank fraud and asbestos-related violations of the Clean Air Act and ordered to pay $524,000 in restitution.