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Judge says alleged Utah Ponzi scheme was not one


It was once touted by federal regulators as the largest financial fraud in Utah history, but a federal judge ruled Thursday that a Fountain Green real estate investment company accused of defrauding investors was not a Ponzi scheme as it has been historically defined, though specific transactions might have been illegal. In a detailed 44-page decision, U.S. District Judge Bruce Jenkins ruled the ...


Archived Story

By Tom Harvey The Salt Lake Tribune Published August 23, 2013 9:52 am Courts • Owner of Fountain Green real estate firm feels vindicated, attorney says Share This Article #disclaimer { font-family: Arial, Helvetica, sans-serif; background-color: #F3EAD8; padding: 4px; border: 1px solid #666; } This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdatedIt is provided only for personal research purposes and may not be reprinted. It was once touted by federal regulators as the largest financial fraud in Utah history, but a federal judge ruled Thursday that a Fountain Green real estate investment company accused of defrauding investors was not a Ponzi scheme as it has been historically defined, though specific transactions might have been illegal. In a detailed 44-page decision, U.SDistrict Judge Bruce Jenkins ruled the company called Management Solutions Incwas on the whole not a Ponzi scheme as the Securities and Exchange Commission alleged when it filed a lawsuit against the company and its owners in December 2011, alleging they fraudulently took in more than $200 million from at least 220 investors. .ad{ margin-bottom:15px; } var adwidth = '0' var adwidth = window.innerWidth || document.body.clientWidth if(adwidth > 767) {

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