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 …

Department of Commerce Warns Consumers About Coronavirus and Stimulus Scams, and Unveils Fraud-Fighting Website

(For immediate release) SALT LAKE CITY, Utah – With economic relief payments, expanded unemployment benefits, loan programs, and other COVID-19-related initiatives, the Utah Department of Commerce is warning consumers to continue to be on the lookout for scams related to COVID-19, including stimulus and other government programs. To help consumers spot scams, the Department launched a new website today, targeted …

Division of Securities Urges Caution as Scammers Target Investors with COVID-19 Schemes

(For immediate release) SALT LAKE CITY, Utah – Amid the ongoing COVID-19 pandemic, the Utah Department of Commerce is alerting investors to be on guard against an anticipated surge of fraudulent investment schemes. “Extraordinary measures are being taken to protect the health of the public. The public response to a difficult situation is encouraging,” said Chris Parker, Interim Executive Director …

Division of Consumer Protection Aggressively Pursuing Price Gouging Complaints

(For immediate release) SALT LAKE CITY, Utah – Since receiving an influx of reports of price gouging over the weekend, investigators with the Division of Consumer Protection are aggressively pursuing reports of price gouging in the State of Utah. “We applaud the outstanding work of our retailers at this difficult time,” said Governor Gary Herbert. “They are working overtime to …