Another Sad Story of Affinity Fraud Within the LDS Community in Utah
Editor’s Note: I often write about the dangers of trusting people in your LDS ward or religious community who are pitching investments, but real stories are sometimes more effective. Below is a...
View ArticleTop Ten Ways to Avoid Losing Money in a Financial Scam – Tip #1
Investment fraud is a big issue here in Utah, largely due to our close-knit social and religious communities, which can be prime targets for “affinity fraud.” “Affinity fraud” is a scam that is...
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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...
View ArticleDiscussion 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...
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Finally It’s Confirmed: Utah Has More Ponzi Schemes Per Capita Than Any State...
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....
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BREAKING: Vescor Ponzi Mastermind Val Southwick Has Been Paroled
Val Southwick, who was convicted of defrauding more than $140 million from hundreds of Utah residents, was quietly paroled last month after serving just ten years, according to KSL News. He pleaded...
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Top Ten Ways To Avoid Losing Money In A Financial Scam*
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...
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More Legal Trouble for Zane Jeppeson
This is actually the third post I have written about a guy named Zane Jeppeson of Garland, Utah. My prior posts can be found here and here. Today’s update comes to us courtesy of The Leader out of...
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Rust Rare Coin: An Analysis of Utah’s Latest Massive Ponzi Scheme
Imagine waking up one day and discovering that all of your retirement savings were gone; all the money you had been working to save had evaporated in a poof. That’s what happened to over 200 people on...
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A New Podcast Interview
For those who are interested in the intersection between the LDS Faith and the epidemic of affinity fraud and Ponzi schemes in Utah and the LDS community worldwide, take a listen to this podcast in...
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Another Former LDS Stake President Indicted for Affinity Fraud
On Wednesday September 6, 2018 the US Department of Justice announced the indictment of Robert G. Mouritsen of Kaysville, Utah on three counts of wire fraud and three counts of money laundering. The...
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More Trouble for John Zane Jeppesen of Garland, Utah
I have previously written about Mr. Jeppeson, now his is more trouble. This is from the Ogden Herald Journal this week: The Utah Division of Securities of the Department of Commerce have filed court...
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FBI Article on Affinity Fraud in Utah
This is a re-post of a great article on the unique problem we have with affinity fraud here in Utah. This article appeared on the FBI’s website yesterday. Affinity Fraud White-Collar Criminals Use...
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Confessed Fraudster Thomas Andrews Has Been Sentenced to 97 Months in Prison
As a follow-up to my prior story about a shocking small town fraud scheme that occurred in Nephi, Utah. Yesterday the confessed perpetrator of that scheme, Tom Andrews, was sentenced to 97 months in...
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Former Salt Lake City Councilman and LDS Stake President Eric Jergensen...
Last week former Salt Lake City councilman and former LDS Stake President Eric Jergensen was convicted of conspiring to defraud an aerospace company of $2.5 million. A New York jury returned the...
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Arizona Resident Cory Williams Sued for $13 Million Fraud Scheme Targeting...
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...
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Carlos Meza Charged With Defrauding LDS Ward Members
I wanted to share a compelling story of fraud perpetrated against several members of the LDS Church in Illinois. It was written by Mark Brown of the Chicago Sun Times and tells the story of a man...
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The Deseret News’ Three Part Series on Affinity Fraud in Utah
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...
View ArticleAnother Case Where Investors Should Have Googled Her Name
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...
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Why Do Utahns Take Such Extreme Risks in Investments?
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...
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