Tag: Utah
Gaylen Dean Rust, Precious Metals Fraud, Utah 2018
Salt Lake City, Utah – Gaylen Dean Rust, 53, of Layton, Utah, is accused of orchestrating a $170 million Ponzi scheme involving the fraudulent sale of precious metals. The Commodity Futures Trading Commission (CFTC) and the Utah Department of Commerce jointly filed a civil enforcement action against Rust and his company, Rust Rare Coin, Inc.…
Travis Capson, Forex Pool Fraud, Utah 2021
KANAB, UTAH – November 29, 2021 – Travis Capson, of Kanab, Utah, and Arnab Sarkar, of El Cerrito, California, have been ordered to pay over $3.8 million in restitution and penalties for operating a fraudulent foreign exchange (forex) pool, the Commodity Futures Trading Commission (CFTC) announced today. The U.S. District Court for the Northern District…
Devin Michael Tew, Unlawful Possession of Drug-Manufacturing Paraphernalia, Utah 2020
⏱ 4 min read Devin Michael Tew, a 40-year-old man from West Jordan, Utah, has been found guilty of selling ‘PoppySeed Wash’ kits online, designed to help customers get high on opiates. The kits, which included unwashed poppy seeds, instructions, and a strainer, allowed users to brew a tea containing morphine, codeine, and thebaine. Tew…
Travis Capson, Forex Fraud, Utah 2019
Travis Capson of Utah, along with Arnab Sarkar of California and their firm Denari Capital, LLC, are facing charges of fraud following a complaint filed by the U.S. Commodity Futures Trading Commission (CFTC) in the U.S. District Court for the Northern District of California on November 5, 2019. The defendants are accused of fraudulently soliciting…
William D. Perkins, Fraud, Utah 2006
CAMDEN, NJ – October 5, 2006 – William D. Perkins of St. George, Utah, is facing civil charges of fraud brought by the U.S. Commodity Futures Trading Commission (CFTC). The CFTC filed a complaint in the United States District Court for the District of New Jersey, alleging Perkins fraudulently solicited over $3.4 million from investors…
Paul R. Grant, Ponzi Scheme Fraud, Utah 2008
SALT LAKE CITY, UT – Paul R. Grant, formerly of Alpine, Utah, has been ordered to pay $240,000 in civil monetary penalties and is permanently barred from commodity trading, the U.S. Commodity Futures Trading Commission (CFTC) announced November 20, 2008. The judgment stems from a long-running case revealing a massive Ponzi scheme operated through his…
William D. Perkins, Commodity Fraud, Utah 2009
William D. Perkins of St. George, Utah, has been ordered to pay over $2 million following a CFTC anti-fraud action, according to a federal court order issued March 25, 2009. The case, originally brought in 2006, centered around Perkins’ operation of Universe Capital Appreciation LLC and his bookkeeping service, Tax Accounting Office (TAO). U.S. District…
MXBK Group, Forex Fraud, Utah 2010
Washington, D.C. – The Commodity Futures Trading Commission (CFTC) has filed an enforcement action against MXBK Group S.A. de C.V., a Mexican financial services holding company, and its forex trading division, MBFX S.A., alleging a multi-million dollar fraud scheme targeting U.S. investors. The complaint, filed in the U.S. District Court for the District of Utah…
Darren L. Shanks, Forex Fraud, Utah 2011
WASHINGTON, D.C. – Darren L. Shanks, formerly of South Jordan, Utah, has been penalized for orchestrating a fraudulent foreign currency (forex) scheme, according to a U.S. Commodity Futures Trading Commission (CFTC) enforcement action announced January 7, 2011. Shanks, the founder of Forex Auto Profits, LLC (FAP), was charged with fraud and misappropriation of funds. The…
Christopher D. Hales, Fraud, Utah 2012
Christopher D. Hales and Eric A. Richardson are facing federal charges of fraud and misappropriation related to commodity futures trading, according to a complaint filed by the U.S. Commodity Futures Trading Commission (CFTC) on May 2, 2012, in the U.S. District Court for the District of Utah. The CFTC alleges that from April 2009 through…
