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 »

How Do Ponzi Schemes Get Started?

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Bernie Madoff

The Financial Times recently published a fascinating prison interview with Bernie Madoff. Of course he spins the story, attempts to justify his actions and it wasn’t really his fault. He claims that his company was legitimately earning profits until the early 1990, and that in the 1980’s he was “making plenty of legitimate trades.” But… Read more »

Man dupes friend, others out of more than money —

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This is a repost of a story that appeared yesterday on December 16th, 2010 @ 7:33pm By Jasen Lee SALT LAKE CITY — For much of his life, Eric Nelson had been a person who saved and planned for his family’s future. After doing so diligently for more than 20 years, he now finds… 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 »