SALT LAKE CITY February 7, 2017 – The Utah Attorney General’s Office announces the sentencing of Dee Allen Randall in one of the largest frauds ever investigated by the Utah Division of Securities. Randall was sentenced on Monday in the Third District Court of Utah by the Honorable Judge Mark Kouris to multiple consecutive terms. He will serve a sentence of 9 to 30 years in prison.
“The damage done by Dee Randall—financially, emotionally, psychologically, and to the health of victims—can never be fully undone. But I hope this conviction and sentence sends the message to all perpetrators in Utah that we will find and aggressively prosecute those who prey on the vulnerable and who defraud honest, hard-working Utahns,” said Attorney General Sean Reyes. “I congratulate Assistant Attorney General Jake Taylor, Paralegal Sheree Wilcox, and the rest of the White Collar and Commercial Enforcement Division of the Utah Office of Attorney General for their outstanding work on this case. We are also grateful for the invaluable efforts of our partners at the Utah Division of Securities in this case. Finally, we thank legislators from both parties for having the vision and commitment to fund assets toward increased investigation and prosecution of white-collar crime.”
“Dee Randall is one of the most damaging white-collar cases our Division of Securities has ever investigated. Randall preyed on friends, neighbors and used insurance agents under him to funnel investors into his scheme which destroyed the lives and nest eggs of 700 victims, many of whom were elderly, “said Francine A. Giani, Executive Director, Utah Department of Commerce, “We are grateful for the tireless efforts of the Utah Attorney General’s Office, for 3rd District Judge Mark Kouris’ swift justice and a special thanks to the victims for having the courage to share their stories with the court.”
In 2016, Randall was convicted by plea of multiple counts of securities fraud and a pattern of unlawful activity for operating his insurance-based Ponzi scheme. In Monday’s sentencing, Judge Kouris’ sentenced Randall to three consecutive sentences of 3 to 15 years in prison. In addition, Randall was sentenced to additional concurrent prison terms of 3 to 15 years and 1 to 15 years.
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