Ponzi scheme

South Jordan real estate mogul sentenced to federal prison

U.S. District Judge David Sam recently sentenced a South Jordan man to over six years in federal prison for wire fraud. The man was charged with wire fraud in connection with an alleged real estate investment scheme. The Utah Department of Justice reports that the 42-year-old South Jordan man will spend 78 months in prison …

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Investment manager pleads guilty to running Ponzi scheme in Utah

A Houston-based investment manager recently pleaded guilty to investment fraud in Utah. Authorities say that the man created an investment company called Winsome Investment Trust and acted as its sole manager, attorney and trustee. Prosecutors allege that the man recruited investors by misrepresenting the assets that Winsome had and also misrepresented Winsome’s asset allocation. The …

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