Arizona Resident Cory Williams Sued for $13 Million Fraud Scheme Targeting LDS Ward Members

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commodity futures trading commission

Today I received a tip that earlier this year the Commodity Futures Trading Commission (CFTC) filed a lawsuit in Federal Court in Arizona against Cory Williams and his company Williams Advisory Group of Gilbert, Arizona. In its complaint the CFTC alleged that Mr. Williams defrauded 40 investors out of at least $13 million in connection with… Read more »

Utah Federal, State, and Local Government Officials Join Forces to Educate Investors on How to Avoid Fraud

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financial fraud institute

Public Seminars to be Held in Salt Lake City and Utah County SALT LAKE CITY April 5, 2017 – In a new, collaborative effort, Utah federal, state and local government officials established the Financial Fraud Institute and will hold two separate multi-agency seminars designed to educate Utah investors and consumers on how to recognize and… Read more »

SEC Publishes Recommendation on How Avoid Common Investment Scams in 2017

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u.s. securities and exchange commission

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 2017 12/27/2016 Whether you… Read more »

UPDATE: The Shocking Story of A Small Town Fraud

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nephi city sign

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 lenient. Andrews withdrew his… Read more »

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

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ponzi scheme hotspots in america map

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 how a number of Utahn’s… Read more »

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

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dee randall

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 resident of… Read more »

Another Case Where Investors Should Have Googled Her Name

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lori anderson

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 hard earned money.  In this… Read more »

Why Do Utahns Take Such Extreme Risks in Investments?

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poker chips

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. Isn’t an investment that… Read more »