Record Fine Levied by Utah Division of Occupational and Professional Licensing for Worker Misclassification and Unlicensed Hiring

[Salt Lake City] — A stipulation including a fine of $1,147,000 for worker misclassification and unlicensed hiring was levied by the Utah Construction Services Commission against Source Investments and owner Justin Peck today, the Department of Commerce announced. Mr. Peck previously entered a guilty plea in an associated case in federal court earlier this year. “The amount of the fine …

Utah Finalizes Investigation and Settlement with Mortgage Servicer Nationstar

SALT LAKE CITY, UTAH — The State of Utah, in coordination with dozens of state and federal government partners, announced the closure of a multiyear investigation of Nationstar Mortgage LLC, d/b/a Mr. Cooper, one of the largest mortgage servicers in the nation. The closure includes a settlement for Utah consumers totaling over $657,000, with 556 Utah loans affected. The investigation …

Utah Department of Commerce Announces Settlement With Apple Over iPhone Throttling

[Salt Lake City] — The Utah Department of Commerce’s Division of Consumer Protection, along with a coalition of over 30 attorneys general led by Arizona Attorney General Mark Brnovich, Arkansas Attorney General Leslie Rutledge, and Indiana Attorney General Curtis Hill, announced a $113 million settlement with Apple, Inc. regarding Apple’s 2016 decision to throttle consumers’ iPhone speeds in order to …

Utah Department of Commerce Warns of Social Media Coronavirus Relief Scam

[Salt Lake City] — The Utah Department of Commerce and the Division of Consumer Protection urgently warn Utahns of a new fraud scheme designed to target social media users by offering COVID-19 aid as bait. “Sadly, devious scammers prey on fear. Pandemic fears are no exception,” said Chris Parker, Executive Director of the Department of Commerce. “Current COVID-19 fears may …

Department of Commerce Announces Sanctions Against Broker for Unauthorized Use of Client Trust Money

[Salt Lake City] — The Utah Department of Commerce today announced a settlement involving disciplinary action against Bruce Armstrong, a licensed real estate principal broker, for taking tens of thousands of dollars from trust funds he held on behalf of his clients. “Mr. Armstrong’s mismanagement of his brokerage trust accounts violated the most basic statutes and rules for licensed principal …

Utah Department of Commerce and Investment Industry Collaborate to Halt Fraud Targeting a Vulnerable Adult

[Salt Lake City] — The Utah Department of Commerce’s Division of Securities, with help from an alert securities professional, recently halted an investment scam against a vulnerable adult. The quick action by private and public sector professionals prevented the loss of $50,000. “Sadly, much of our enforcement activity comes after investors’ money is lost,” said Chris Parker, Executive Director at …

Defendant Charged in Connection with Fraudulent Silver Trading Program Pleads Guilty to Money Laundering

SALT LAKE CITY – Denise Gunderson Rust, one of three individuals charged in connection with an alleged scheme to defraud investors by inducing them to purchase investments in a fraudulent silver trading program, pleaded guilty to money laundering in federal court late last week. Gaylen Rust owned and managed Rust Rare Coin, Inc. (RRC), R Legacy Entertainment LLC, R. Legacy …