Top Ten Ways To Avoid Losing Money In A Financial Scam*

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money in back pocket

Every week Utah residents lose money by investing with friends, family or neighbors – people they knew and trusted. Investment fraud is a big problem here in Utah, largely because our close-knit communities are a prime target for “affinity fraud.” Our state has a long history of financial scams and Ponzi schemes, many of which… 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 »

Two Convictions in the Mathon Ponzi Scheme

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A long-running Arizona affinity-fraud case targeting members of the Church of Jesus Christ of Latter Day Saints took an important step toward conclusion with the conviction last week of Guy Andrew Williams and his father Brent F. Williams. In 2009 the Williams were indicted on 40 counts of conspiracy, wire fraud, mail fraud and money… Read more »

The LDS Church Issues a Strong Position on Affinity Fraud

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money falling into open palm

I am pleased to see that after years of urging from me and others who have seen affinity fraud perpetrated within LDS church congregations for years (especially in Utah County) the church has finally stepped up to the plate and taken a stronger position on this issue. They did so at the annual Fraud College… Read more »

Former Mormon Bishop and Art Collector Will Spend 12 years in Prison

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Merriman headshot

Today there was yet another article about an individual who held a position of trust in the LDS Church and used that position to commit fraud. U.S. District Judge Marcia Krieger sentenced Shawn Merriman to 12½ years in federal prison this afternoon for defrauding 67 victims out of $21 million. Merriman was a Bishop in… Read more »

Former Stake President, Regional Representative… and Scam Artist

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Ronald Dean Udy mugshot

R. Dean Udy, 71, a former stake president and regional representative in Brigham City, Utah was sentenced to 1-to-15 years in state prison last week on securities fraud charges. He pled guilty to a scheme that ran for 12 years or more. According to the article in the Ogden Standard Examiner, “Udy’s victims total 1,500,… Read more »

Even Ponzi Schemers Pay Their Tithing

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As a follow-up to my last post, my friend Lon Jenkins has just sued the LDS Church in a “claw back” lawsuit for the RCH2 receivership he is handling. Lon is seeking return of at least $160,306 plus interest from the Church that was paid as tithing. Virtually anyone who takes money from a Ponzi… Read more »