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Is Utah the Fraud Capital of the U.S.?

April 30, 2019

Yes. Yes, we are.

Utah has a long-held reputation as the fraud capital of the United States, mostly based on anecdotal evidence. But a nationwide Ponzi scheme database that Florida attorney Jordan Maglich compiled offers proof that the ignominious label appears deserved…

Overall, Utah investors lost over $1.5 billion in those [Ponzi] scams over those 10 years. The number does not include other affinity frauds and investment scams which Pugsley estimates account for another $500 million in losses to Utah residents.

Does Utah deserve the title ‘fraud capital of the United States’?
by Dennis Romboy for Deseret News

One of the priorities of the Utah Attorney General’s office is to prosecute those who participate in fraudulent and criminal activity. In an effort to better protect citizens from financial fraud, the Utah AG created a White Collar Crime Offender Registry.

White collar crimes are characterized by deceit, concealment, or a violation of trust. Those who commit these crimes are often motivated by the desire to avoid losing money, property, or to secure a financial advantage.

Protect yourself from fraudulent investments by being in the know. Before making a financial investment – check the Registry.

Photo by Michael Longmire

Utah AG: Best of State 2018

The Utah Attorney General’s Office found itself the proud recipient of multiple Best of State awards this year. Those in the Utah AG’s office work hard to uphold the Constitution, enforce the law, and protect the interests of Utah and its people. Our sincere thanks to all those who give their time and energy to help make our office the Best of State.

The Best of State Awards recognize outstanding individuals, organizations and businesses in Utah. More than 100 judges review the nominations and determine the winners based on achievement in the field of endeavor, innovation or creativity in approaches, techniques, methods or processes, and contribution to the quality of life in Utah.

See below for a complete list of the AG’s Best of State 2018 awards.

Elected State Official: Utah Attorney General Sean D. Reyes

Military Personnel/Unit: Utah@EASE

Public Safety: Investigations Division, Utah AGO

Public Works: Utah Opioid Task Force

Public/Private Partnership: The Utah Children’s Justice Center Program

Publication: Utah AGO White Collar Crime Offender Registry

State Agency/Office: Utah Attorney General’s Office

Victim Advocacy: Attorney General Sean Reyes

Web-based Community Resource: The SafeUT App

The Utah AGO nominated DEA District-Agent-in-Charge Brian Besser for the following award due to his relentless work in combatting the opioid epidemic that has hit Utah both in the metro and rural areas. We are privileged to call him a partner, colleague, and friend.

Public Safety Officer: DEA District-Agent-in-Charge Brian Besser

Utah Attorney General's Office

Dwight Shane Baldwin Sentenced to Between Four and 30 Years

SALT LAKE CITY May 27, 2016 –The Office of the Attorney General (OAG) announced today that Dwight Shane Baldwin, more commonly known as Shane Baldwin, was sentenced to between four and 30 years for four counts of Securities Fraud and three counts of Communications Fraud, all 2nd Degree Felonies. Baldwin was prosecuted by the Mortgage and Financial Fraud Unit of the OAG after an investigation by the Utah Division of Securities and the Federal Bureau of Investigation (FBI).

Utah Attorney General Sean Reyes released the following statement in relation to the sentencing:

“It continues to be important that people verify the legitimacy of any deal or offering before ever trusting anyone, even close friends and family, with money to invest. This case is an excellent example of the damage that can be wrought upon innocent victims when trust is violated. We hope citizens will take great precautions, including checking the White Collar Fraud Offender Registry, when making investments of any sort. I cannot emphasize this enough. Fraud destroys lives. Fraud decimates families and businesses. Utahans must do everything in their power to protect themselves while we continue to aggressively investigate and prosecute fraudsters.

“We appreciate the fine work and cooperation of our partners, the Utah Division of Securities and the Federal Bureau of Investigation. We also thank the United States Attorney’s Office for inviting us to lead the prosecution of this case.”

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