Cases by state
Ponzi schemes in Utah
42 cases announced 2008–2026, involving about $1.8B in reported investor money. Most common types: real estate, trading, forex & commodities and investment funds & advisory. Listed by where the main defendant was based.
The largest by reported amount: Management Solutions Inc, Thunder Bay Mortgage Company ($220M, 2011). Charges are allegations unless a court has entered a conviction or judgment.
Pitch phrases seen in these cases
- “70/30 profit split; trader portrayed as a”
- “100% returns in 12 months”
- “hedge fund”
- “live stream”
- “watch [their] money grow”
- “could be funded as soon as next week, which will bring in substantial funds”
- “new and radical form of propulsion technology”
- “secured $200 million in government contracts”
Cases
| Date | Case | Location | Industry | Amount |
|---|---|---|---|---|
| Feb 2, 2026 | Rentdue Capital LLC, Forged Oak LLC Jeffrey Jace Vernon, Matthew Shane Perkins, Talease Perkins |
Washington City, UT | Trading, forex & commodities | $89M |
| Feb 2, 2026 | Christian Montiel-Caleit | West Valley City, UT | Investment funds & advisory | $1M |
| Mar 20, 2025 | K & K Strategies LLC Kenny Dirk Van Der Spek (aka Kenny Vanderspek) |
South Jordan, UT | Trading, forex & commodities | $5M |
| Feb 1, 2025 | Cascade IR LLC, Savitar Systems LLC Thomas Paul Madden, Jeremy Tyler Grabow |
Washington City, UT | Investment funds & advisory | $25M |
| Feb 29, 2024 | Joseph Firmage | Salt Lake City, UT | Investment funds & advisory | $25M |
| Oct 14, 2022 | Crew Capital Group LLC, Wealth Navigation Advisors Stephen Romney Swensen |
Centerville, UT | Investment funds & advisory | $29M |
| Jun 5, 2020 | MMT Distribution LLC, R & D Global LLC Daniel F. Putnam, Jean Paul Ramirez Rico, Angel A. Rodriguez |
UT | Crypto & digital assets | $12M |
| Jun 24, 2019 | Landon M. Smith | UT | Real estate | $2.5M |
| Nov 16, 2018 | Rust Rare Coin Inc. Gaylen Dean Rust |
Layton, UT | Trading, forex & commodities | $170M |
| Sep 27, 2018 | J.T. Bramlette, Anthony Harttman, Travis Kozlowski, Aaron Wernli | Salt Lake City, UT | Investment funds & advisory | $11M |
| May 15, 2018 | The Equity Growth Group (TEGG) Shawn Patrick Watkins |
Layton, UT | Real estate | $3.4M |
| Nov 30, 2016 | Blackbird Capital Partners LLC Andrew D. Kelley, Paul H. Shumway |
Draper, UT | Trading, forex & commodities | $3.1M |
| Jul 28, 2016 | Traffic Monsoon LLC Charles David Scoville |
UT | Investment funds & advisory | $207M |
| Jun 15, 2016 | Money Management Strategies John Holdaway, Kevin Kyes |
Sandy, UT | Trading, forex & commodities | $7M |
| Apr 21, 2016 | Peak Capital Management Group Inc., Peak Capital Group Inc. Scott A. Beatty |
Roy, UT | Trading, forex & commodities | $825,000 |
| Apr 4, 2016 | Jeppesen Land and Properties John Zane Jeppesen |
Garland, UT | Real estate | $9M |
| Mar 31, 2016 | John Scott Clark | UT | Energy & alternative assets | $1.7M |
| Jan 21, 2016 | Marquis Properties LLC Chad Deucher, Richard Clatfelter |
UT | Real estate | $28M |
| Dec 19, 2015 | SMTS Association Lori Ann Anderson |
Logan, UT | Trading, forex & commodities | $1.7M |
| Aug 20, 2015 | National Note of Utah Wayne LeMar Palmer, Julieann Martin |
West Jordan, UT | Real estate | $140M |
| Jul 10, 2014 | ST Ventures LLC Tyson D. Williams, Stanley D. Parrish |
Washington, UT | Real estate | $7M |
| Jun 18, 2014 | Dee Allen Randall | Kaysville, UT | Real estate | $72M |
| May 15, 2014 | Brandon Benson | Salt Lake City, UT | Trading, forex & commodities | $1.5M |
| Aug 9, 2013 | Elva Group Armand R. Franquelin, Martin A. Pool |
Ogden, UT | Real estate | $12M |
| Aug 8, 2013 | S.B. Heinz & Associates Inc. Steven B. Heinz |
Provo, UT | Trading, forex & commodities | $4M |
| Aug 14, 2012 | Highland Residential LLC, Avanti Capital Partners LLC Ivan Wade Brown |
UT | Lending & cash advance | $27M |
| May 2, 2012 | Bentley Equities Eric A. Richardson, Christopher D. Hales |
Cedar Hills, UT | Trading, forex & commodities | $2.3M |
| Dec 15, 2011 | Management Solutions Inc, Thunder Bay Mortgage Company Wendell A. Jacobson, Allen R. Jacobson |
Fountain Green, UT | Real estate | $220M |
| Oct 10, 2011 | Frederick H.K. Baker, Mark W. Akins | Logan, UT | Trading, forex & commodities | $1.7M |
| Jun 30, 2011 | Paradigm Acceptance LLC Wayne Reed Ogden, Terry Ogden |
Koosharem, UT | Real estate | $29M |
| Jun 1, 2011 | John S. Dudley | Sandy, UT | Trading, forex & commodities | $12M |
| Mar 28, 2011 | Impact Cash LLC, Impact Payment Systems LLC John Scott Clark |
Hyde Park, UT | Lending & cash advance | $47M |
| Mar 23, 2011 | Mike Watson Capital LLC, Mike Watson Investments LLC Michael P. Watson, Joshua F. Escobedo |
Mapleton, UT | Real estate | $27.5M |
| Jan 19, 2011 | Calypso Financial LLC Emilee Peterson Buckley |
Salt Lake City, UT | Real estate | $11.3M |
| Jan 7, 2011 | Raymond P. Morris, James L. Haley, Jay J. Linford, Luc D. Nguyen | Draper, UT | Investment funds & advisory | $60M |
| Dec 27, 2010 | Coadum Capital Thomas Repke, James Jeffery |
Salt Lake City, UT | Trading, forex & commodities | $30M |
| Jul 2, 2010 | Waterford Loan Fund LLC, Waterford Funding LLC Travis L. Wright |
Salt Lake City, UT | Real estate | $145M |
| Jun 25, 2010 | Joseph A. Nelson, Anthony C. Zufelt, David M. Decker Jr., Cache D. Decker | UT | Investment funds & advisory | $15.6M |
| May 26, 2009 | Claud R. Koerber (aka Rick Koerber) | Alpine, UT | Real estate | $100M |
| Apr 21, 2009 | Jeffrey Lane Mowen | Lindon, UT | Real estate | $18M |
| Mar 12, 2009 | Smart Assets LLC Brian Jared Smart |
Lehi, UT | Investment funds & advisory | $1.7M |
| Feb 6, 2008 | Val E. Southwick | Ogden, UT | Real estate | $180M |