SEC Publishes Recommendation on How Avoid Common Investment Scams in 2017

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The Securities and Exchange Commission has published its annual list of tips designed to help investors with managing their money and avoiding common scams in the New Year.  Here is the list which is published by the SEC’s Office of Investor Education and Advocacy: SEC INVESTOR BULLETIN: 10 INVESTMENT TIPS FOR …

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UPDATE: The Shocking Story of A Small Town Fraud

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UPDATE: Yesterday United States District Judge David Sam rejected a plea deal that had been worked out between Thomas Andrews (the subject of the story below) and the U.S. Attorney’s Office.  According to a story in the Deseret News, Judge Sam rejected the plea deal because he believed it was too …

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The Deseret News’ Three Part Series on Affinity Fraud in Utah

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My friend Dennis Romboy is a great reporter over at the Deseret News who put together a very detailed two-part story on affinity fraud that was published over the weekend. Part One of the series was called “Utah’s fraud ‘epidemic’: Victims share anger, embarrassment, hurt” and provided the details of …

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The 2016 Hiscox Embezzlement Study – A report on white collar crime in America

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I saw this new study by Hiscox Insurance referenced in an article on Bloomberg and thought my readers might be interested in it, even though its focused more on embezzlement from businesses. The study shows that white-collar crime is a major problem that all small business owners should be wary of.  Four …

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Does Disclosure of a Ponzi Scheme in the PPM make it legal? No.

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Dee Randall ran one of Utah’s largest Ponzi schemes, raising more than $72 million from approximately 700 investors nationwide. On June 18, 2014 Utah Attorney General Sean D. Reyes’ office filed a criminal information and affidavit of probable cause against Randall for multiple counts of securities fraud and other related charges.  Randall, a …

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UPDATE: Shane Baldwin Pled Guilty and was Sentenced to Up To 60 Years in Prison

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On April 1, 2016 Shane Baldwin pleaded guilty to four counts of securities fraud, one count of theft and one count of pattern of unlawful activity. All of his crimes are second-degree felonies, each of which are punishable by one to 15 years in prison.  As part of a plea …

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Another Case Where Investors Should Have Googled Her Name

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This is a story that appeared in the Salt Lake Tribune yesterday.  As I have said before, many of these fraudsters are serial offenders.  They get out of prison and quickly get back into the business of soliciting investments from innocent investors.  So please do your homework before giving anyone your …

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A New Utah Law Permits People to Remove Their Cases From State Agency’s Websites

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Did you enter into a settlement with or get sanctioned by the Utah Division of Securities more than five years ago? Have you paid your fine and otherwise complied with the securities laws in Utah since that time?  If so, you may be eligible to have the record of your …

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Why Do Utahns Take Such Extreme Risks in Investments?

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The editorial board of the Salt Lake Tribune recently wrote an editorial titled “Gambling-averse Utahns take wild investment bets” (reproduced below) which asks why Utahns, who are always talking about the evils of gambling, so often fall prey to the pitches of con-men who promise outrageously high returns with significant risk. …

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