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 resident of Kaysville, Utah, was charged… Read more »

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 hard earned money.  In this… Read more »

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.  Isn’t an investment that promises… Read more »

Chad Deucher of Marquis Properties Has Been Indicted.

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I previously wrote about the SEC’s lawsuit against Chad Deucher of Orem, Utah.  As is often the case, the criminal authorities have now brought separate criminal charges against him in connection with the alleged $28 million Ponzi scheme that defrauded more than 250 investors throughout the United States.  Yesterday the U.S. Attorney’s Office for the District of… Read more »

UPDATE on the Fraud Case Against Roger Bliss of Bountiful, Utah

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I previously wrote about the numerous red flags that were raised by the investment pitch given by Roger Bliss in Bountiful, Utah. That post has generated a significant number of comments and interest, so I thought an update would be appropriate. This was a fairly unusual case involving  cooperation between multiple state and federal agencies.  The interrelated state… Read more »

The Steven B. Heinz Ponzi Scheme

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Today I realized that I never posted about the case against Steven B. Heinz.  Please accept my apologies for this oversight, as this is a story that fits the purposes of this blog perfectly.  Heinz solicited his clients at his brokerage firm, Ogilvie Security Advisors Corporation, and used his membership in the Mormon Church to gain trust with… Read more »

Another Utah Ponzi Scheme? The SEC’s lawsuit against Marquis Properties

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Last month the Salt Lake Regional office of the US Securities and Exchange Commission filed a lawsuit and obtained an asset freeze against Marquis Properties, LLC, its CEO and President Chad R. Deucher, and the company’s Executive Vice President, Richard (“Rick”) Clatfelter.  In its complaint the SEC alleges that these men orchestrated a $28 million Ponzi scheme… Read more »