Developer accused of stealing $3 million

A developer who once proposed constructing a 112-story skyscraper in downtown Chicago is accused of stealing over $3 million from buildings he managed.

Fifty-one-year-old Scott Toberman, of Atlanta, was indicted on ten counts of fraud.

Toberman's attorney John Sullivan has declined to comment.

Toberman was the president of European American Realty Ltd., which oversees properties in Chicago, Atlanta and other cities.

Authorities say Toberman allegedly used funds from owners of tenants for personal expenses like wine and debts from his 1999 proposal to build what was deemed the world's tallest tower.

Toberman could face up to 20 years in jail if convicted.