Man Sentenced in Utah’s Largest Fraud Case
A Utah business man accused of participating in the largest case of fraud ever in the state of Utah was found guilty of 9 criminal charges stemming from a ponzi scheme involving phony real estate transactions throughout the state of Utah. The man took $180 million dollars from investors and was paying former investors with the new money coming in not actually making investments at all. The judge sentenced the man to 1 to 15 years in jail and other time for the felony charges. The judge suspended most the of the jail time. Ultimately, the man will receive 1 year in jail and 10 years of probation.
Ponzi Schemes in Utah
Yes, it is true what you have heard. Utah is one of the leading fraud states in the nation. Every year, many Utahans are charged with crimes such as securities fraud, check fraud, insurance fraud, theft of services, and even ponzi schemes. Many of us know a friend or neighbor who was charged by the state of Utah for questionable financial and investment practices.
We understand that some people can get mixed up in fraudulent transactions without even realizing what they are doing, and without even knowing that what they are doing is criminal. Often, people rely on bad advice from their friends or in some case even attorneys, when engaging in certain businesses. If this sounds like you, or if you have been charged with any type of fraud crime in Utah, we want to help. We want to defend you and ensure you are not taken advantage of in a system that is already significantly stacked against you.
Utah County Criminal Defense Lawyers
At our law firm, we have a team of Utah County criminal defense lawyers who represent individuals in all types of fraud cases. From ponzi schemes to check or insurance fraud, we know the system and know what it takes to properly defend you in these types of cases. Fraud cases include unique financial issues and intricacies that can often mean the difference between a guilty and not guilty verdict.
For more information, call us today or send us an email. There is no charge for the initial consultation and you can speak with a Provo criminal defense lawyer anytime.