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Sean D. Reyes
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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