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Sean D. Reyes
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Lake Powell Houseboat Owners Defrauded by Caretaker

AG Prosecutors Get Jail Time/Restitution for Man Who Mishandled over $1 Million Dollars in Entrusted Funds

SALT LAKE CITY – A man entrusted with care and maintenance of 40 houseboats on Lake Powell will serve jail time and pay restitution for felony crimes related to the misuse of money intended for the houseboats. Jordan Blackwell Schneiman of Sandy pleaded guilty to Unlawful Dealing by a Fiduciary and Pattern of Unlawful Activity on July 1.

An investigation by the Utah Attorney General’s Office revealed that over $1 million in funds from the bank accounts of 40 houseboats under Schneiman’s management were missing or misused. As part of the sentence, Judge William Kendall ordered Schneiman to pay $1,056,864 in restitution to the victim’s houseboat owners. He will begin payments after serving 270 days in jail as a term of probation, which if he willfully violates the terms will revert to two consecutive 1–15-year prison sentences.

The AG Office’s investigation found houseboat owners had discovered their houseboat bank accounts had been drained and that their houseboat-related expenses, including insurance, had not been paid. Investigators uncovered a pattern in which Schneiman and his company, Lake Point Management, LLC, repeatedly misused funds from the accounts, and transferred money from one account to other accounts without authorization. He also commingled money from the houseboat accounts into a general account, used for unauthorized and personal expenses, while failing to pay for maintenance of the houseboats. The number of unauthorized transactions and accounts was extensive, and the money is gone. 

Several houseboats were not covered by insurance at the time Schneiman’s scheme was uncovered, due to non-payment of premiums. Antelope Point Marina was owed hundreds of thousands of dollars in slip fees, storage costs, and maintenance expenses that went unpaid under Schneiman’s care. Schneiman stopped responding to texts and phone calls from houseboat owners and abandoned Lake Point’s office in Sandy, leaving a trail of unpaid debts.

“The successful resolution to this case is due to the painstaking work from our prosecution team,” said Robert Steed, Director of the Financial Crime Unit.  “Mr. Schneiman took advantage of these houseboat owners, creating real anxiety and hardship for those who trusted him.  We consider it a privilege to help these families receive some measure of justice for what they lost in these crimes.”

Attorney General Sean D. Reyes expressed gratitude to the prosecution team lead by Wayne Jones and Investigators Eric Varoz and Tyson Downey.

Read the original charging documents here

Read the Probable Cause Statement here.