http://www.ksl.com/?sid=39623950&nid=14 ... nzi-scheme
An Orem man bilked investors in his real estate firm out of $16 million over six years in a Ponzi scheme, federal prosecutors say.
A grand jury indicted Chad Roger Deucher, 43, on 18 counts of wire fraud and one count of fraud in connection with the purchase and sale of securities. He is scheduled to appear in court later this month.
Deucher, who owned Marquis Properties, used direct solicitations, radio ads, a website, and real estate and retirement seminars to find investors, promising returns as high as 22 percent, the indictment states.
In all, Deucher collected $28 million from 250 investors, including 170 who lost about $16 million from 2010 to 2016, according to the indictment.
Prosecutors allege he transferred several million dollars of investors' money into business and personal interests unrelated to the acquisition or rehabilitation of property. He also allegedly failed to tell investors his company was insolvent.
The maximum penalty for each of the 19 counts is 20 years in federal prison. The potential fine for securities fraud is $5 million and each wire fraud count has a potential $250,000 fine.
Deucher is also the subject of a Securities and Exchange Commission civil lawsuit.
Mormons being Mormonicious again (Ponzi-scheme link)
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_Mormonicious
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Mormons being Mormonicious again (Ponzi-scheme link)
Revelation 2:17 . . give him a white stone, and in the stone a new name written, which no man knoweth saving he that receiveth it. Thank Google GOD for her son eBay, you can now have life eternal with laser engraving. . oh, and a seer stone and save 10% of your life's earning as a bonus. See you in Mormon man god Heaven Bitches!!. Bring on the Virgins
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_Dr. Shades
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Re: Mormons being Mormonicious again (Ponzi-scheme link)
What evidence do you have that this guy is a Mormon?
"Finally, for your rather strange idea that miracles are somehow linked to the amount of gay sexual gratification that is taking place would require that primitive Christianity was launched by gay sex, would it not?"
--Louis Midgley
--Louis Midgley
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_The CCC
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Re: Mormons being Mormonicious again (Ponzi-scheme link)
His state prosecutors probably are.
Living out here is Sodom and Gomorrah I've developed the idea that if someone has to appeal to their religion to get you to buy something. RUN; and if they have to appeal to your religion to get you to buy it. RUN FASTER.
Living out here is Sodom and Gomorrah I've developed the idea that if someone has to appeal to their religion to get you to buy something. RUN; and if they have to appeal to your religion to get you to buy it. RUN FASTER.