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Charges dropped against failed racetrack developer, former school leader

A failed developer and former school leader is no longer facing charges in Missouri. On Friday ABC 17 News confirmed forgery counts were dropped against Robert Stone, who used to serve on the school board for Sturgeon R-V, about 30 minutes north of Columbia.

Stone wanted to build a $60-million racing complex in Randolph County, which included a hotel, fire station, night club and water-ski jumping facility. The plans ultimately failed.

Stone received a 10-year sentence after filing fraudulent documents to get a line of credit for the project at an Oklahoma bank in Kingfisher County. Stone has been released on parole after he also passed a bad check in neighboring Logan County, Oklahoma.

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