Brian Sewell and Keen Ellsworth Indicted for Unlicensed Money Transmitting

St. George, Utah – The grimy details of a financial crime unfold as Brian Garry Sewell and Keen Lee Ellsworth face federal charges for their alleged role in an unlicensed money transmitting business. According to the Department of Justice USAO, the duo is accused of converting bulk cash into cryptocurrency without a proper license.

Sewell, 52, was arrested in Salt Lake City, while Ellsworth, 57, of Toquerville, awaits his initial court appearance on June 24, 2024. The scheme is alleged to have taken place from March 2020 to September 2020.

According to court documents, Sewell and Ellsworth managed an unlicensed money transmitting business through Sewell’s entity, Rockwell Capital Management, and Ellsworth’s Ellsworth & Associates. They processed over $2.5 million in transactions without a license, including transferring funds from Ellsworth & Associates to Sewell.

In addition to the unlicensed money transmitting charges, Sewell faces multiple federal crimes, including wire fraud, false statements in connection with loans, and money laundering. The grand jury indictment also reveals that Sewell defrauded investors out of at least $2.5 million by lying about his qualifications and investment returns.

Specifically, Sewell is accused of submitting a fraudulent mortgage application using a fabricated W-2 and earnings statement, misrepresenting his income and educational background to secure a loan. He also made false statements to Chartway Federal Credit Union to influence the approval of a loan application.

The grimy tale of financial deceit does not end there; Sewell is charged with conspiracy to conduct an unlicensed money transmitting business, theft of government property, wire fraud, false statements influencing federal agencies, and money laundering. The investigation into this case was jointly conducted by the FBI and other federal law enforcement agencies.