How to Blow the Whistle on Bank Fraud

The Federal Government offers potentially significant rewards to whistleblowers who provide information to the government that helps protect financial institutions by “deterring would-be criminals from including financial institutions in their schemes.” United States v. Serpico, 320 F.3d 691, 694-95 (7th Cir. 2003). The Financial Institutions Reform, Recovery and Enforcement Act …

Continue Reading


Why Is Utah Home To So Many Ponzi Schemes?

EDITORS NOTE: this is a repost of a story that aired on our local NPR affiliate, KUER on December 30, 2019. Doug Hronek is a client of mine who agreed to speak publicly about this experience. We have filed lawsuit against Live Abundant and its agents on behalf of Doug …

Continue Reading




Mark Pugsley and Aaron Hinton Prevail on Fraud Case in Third District Court

RQN lawyers Mark Pugsley and Aaron Hinton, together with their co-counsel Kevin Simonof Strachan Strachan & Simon, P.C, won a significant victory after a 5-day trial in Utah State Court.  In a detailed opinion issued last week Judge Matthew Bates awarded their clients compensatory damages in excess of $3 million, $2 million in punitive …

Continue Reading


Discussion of Investment Fraud in Utah on KSL’s Sunday Edition with Doug Wright

Editor’s note: I was interviewed on KSL’s Sunday Edition with Doug Wright last week. The discussion about Ponzi Schemes and affinity fraud in Utah happens at 8:18. I appreciate KSL Television’s willingness to engage in a frank discussion about why affinity fraud is a particularly vexing problem here in Utah, …

Continue Reading


My Interview with ‘Trib Talk’ on Why Utah is Home to So Many Ponzi Schemes

Editor’s Note: This is an interview I did yesterday for the “Trib Talk” podcast from the The Salt Lake Tribune . The sentencing of convicted fraudster Rick Koerber was delayed — again — this week, adding another chapter to a 10-year legal saga for one of Utah’s most notable Ponzi schemes. But …

Continue Reading


Finally It’s Confirmed: Utah Has More Ponzi Schemes Per Capita Than Any State in the Country. By Far.

I frequently speak to groups about investment fraud and one of the questions I often get asked is whether it’s true that Utah has the highest rate of Ponzi schemes and affinity fraud in the country. In the past I haven’t been able to say for sure.  There aren’t any …

Continue Reading


The Growing Problem With Sales of Unregistered Securities

Recently I have been busy working to recover losses for a large number of investors who lost money in unregistered investments offered by Woodbridge and Future Income Payments or FIP. In many cases these investments were recommended by insurance agents who were not licensed to sell securities, and did not …

Continue Reading