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West Jordan Office
8813 South Redwood Road
West Jordan, UT 84088

Telephone: 801-651-1512
Fax: 801-255-2134
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Richfield Office
167 North Main Street
Richfield, UT 84701

Telephone: 435-633-1876
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Park City Office
1960 Sidewinder Drive
Park City, UT 84060

Telephone: 435-640-5662
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Tooele Office
7 South Main
Tooele, UT 84074

Telephone: 435-841-2695
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Greg Smith and Associates, Attorneys & Lawyers, Salt Lake City, UT

Sandy man sent to prison on wire fraud charges

construction loan fraud

A 49-year-old Sandy man was recently convicted of wire fraud and money laundering arising out an illegal construction financing scheme. The man's conviction was announced by the Utah division of the Dept. of Justice late last week. The DOJ says that U.S. District Judge Ted Stewart imposed a 41 month prison sentence on the man last Wednesday.

Prosecutors allege that the man and two accomplices allegedly swindled a father and son into providing a construction bridge loan by misrepresenting the value of property which they put up as collateral for the loan.

A construction bridge loan is a common type of short-term loan used to finance a construction project pending the approval of a larger or longer-term loan from a bank or set of financiers. Authorities say that the men involved in the construction fraud scheme did try to pursue funding for a short while but abandoned their attempts.

Special agents from the FBI and IRS investigated the terms of the loan and allege that the defendants diverted funds from the loans to their personal use and laundered the money through the bank account of the Sandy man's mother.

Wire fraud and money laundering are common federal charges to arise out of high-value fraud schemes involving tax reporting or interstate banks. Wire fraud charges are often brought in place of state charges which could carry smaller sentences.

Source: Utah DOJ, "MUNOZ SENTENCED TO 41 MONTHS IN FEDERAL PRISON AFTER PLEADING GUILTY TO WIRE FRAUD, MONEY LAUNDERING IN CONNECTION WITH PROPERTY FRAUD SCHEME NEAR PARK CITY," Jan 3, 2013

Tags: Fraud, federal crime, money laundering, white collar crime, wire fraud

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Feedback From Satisfied Clients

"The domestic violence and DUI crimes that I was charged with would have ruined my career. Thank you for saving me! You are worth every penny I paid you."

More Testimonials

Office Locations

West Jordan Office
8813 South Redwood Road
West Jordan, UT 84088

Telephone: 801-651-1512
Fax: 801-255-2134
West Jordan Law Office Map

Richfield Office
167 North Main Street
Richfield, UT 84701

Telephone: 435-633-1876
Richfield Law Office Map

Park City Office
1960 Sidewinder Drive
Park City, UT 84060

Telephone: 435-640-5662
Park City Law Office Map

Tooele Office
7 South Main
Tooele, UT 84074

Telephone: 435-841-2695
Tooele Law Office Map

View Our Office Locations

Greg Smith and Associates, Attorneys & Lawyers, Salt Lake City, UT


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Greg Smith and Associates, Criminal Law Attorneys, located in Salt Lake City (SLC), also represents clients from communities such as Provo, Orem, Ogden, Park City, Sandy, Draper, West Valley City, Tooele, Bountiful, Murray, West Jordan, Taylorsville, Farmington, Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Murray, Riverton, Sandy, South Jordan, South Salt Lake, Taylorsville, West Jordan and West Valley City; and counties including Salt Lake County, Tooele County and Davis County, Utah.


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