Poking around on the web and I inadvertently found this:


http://en.wordpress.com/tag/lds-church-2/


Mark Pugsley details many cases involving fraud by LDS people. Some of these guys you can see are real snakes while serving as senior LDS leaders. One, of course, is R. Dean Udy, serving as LDS Regional Representative when he was sentenced to prison. (You may recall that within an hour or so of his sentencing, all references to him on LDS websites were gone. He went from local LDS hero to non-person real fast, and unless you have hard-copies of his talks, won't find them.) I wonder if Udy, sentenced only from 1 to 15 years, will become a mission president when released like L. Wynn Johnson.

No one still dares speak about exactly why Mormons beget so many fraudsters and think nothing of it. What I tell people is that fraud is so ingrained in the majority of LDS people--either as unconsciously bearing the expectation of being defrauded, or semi-consciously being aware that the church was founded on and perpetuated in fraud--that fraud is somehow an expected behavior in church. Whatever the reason, some certainly see it as okay and feel free to perpetrate it. And whatever the reason, the LDS church, no matter what they say, often does nothing but reward the fraudster. After all, I'm not sure when Udy was appointed, but his fraud case went on for some three years while he was serving as a RR for the church, so there was no attempt to distance the reputation of the church from Udy. And as pointed out only a few days ago, L. Wynn Johnson continued to be held in high esteem by the LDS church even after pleading guilty to fraud. And while technically imprisoned (wearing an ankle bracelet on house arrest due to humanitarian reasons), the church (and the Court) allowed him to attend the temple and to hold stake leadership positions over the very people whom he defrauded. Now he's a mission president in Hawaii.

I started this list a few weeks ago with a simple search.
please add if you know of any more..
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Val Southwick Ponzi Scheme - Bishop
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Shawn Merriman Ponzi Scheme- Bishop
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Anthony Vassallo "In California, the SEC said Vassallo told investors, many of whom he met in church, that he had developed a software program that allowed him to buy and sell options that generated profits of 3.5 percent a month with little risk."

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Kleenmaid collapse - " What's more, chairman Andrew Young and his brother Brad were Mormons and that added to their image as upright and ethical members of the community."
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Mortgage Fraud - Sentenced were Bradley Grant Kitchen of Provo, David R. Bolick of Sandy, Steve Wells Cloward of Orem, Ron K. Clarke of Provo, and Jeffery David Garrett of Provo.......... The men were indicted by a federal grand jury in 2007 on charges they conspired to create a multimillion dollar mortgage fraud scheme involving a Utah County development that was originally thought to total $18 million in fraudulent loans.
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Ted James Johnson Jr-
Investors believed in Giles County businesses
People who gave money to Ted James Johnson Jr. said he seemed to know what he was doing......It was not the cost but the deceit that bothers him, Charles Wayne Gentry said gently from the witness stand Thursday in federal court in Roanoke.
He'd gathered his savings, sold his house and store and counseled his wife and brother-in-law to put in their inheritance -- $724,000 in all -- only to see the money disappear in the collapse of Mountain Investments and Dogwood Farms, two businesses run by a pair of Giles County financial advisers indicted last year on 42 charges tied to securities fraud....
Johnson's investors included fellow Mormons from Giles County and beyond, teachers and university professors, and businessmen.

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A major Utah investment fund has collapsed, leaving more than 268 creditors owed $168 million.
Of that total, investors in the Waterford Loan Fund from Utah and 19 other states are owed $100 million, according to preliminary figures compiled by a contract manager for the company and attorneys. Assets were listed at $40 million.

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Leticia Avila -

"Leticia Avila used her LDS Church connections and the promise of cooperation from a high-ranking immigration official to con $4,000 apiece from undocumented immigrants attempting to get legal visas, according to more than two dozen affidavits from victims.
Many of the alleged victims say what is most upsetting is that they were betrayed by someone who preyed on their religious faith. They trusted Avila because she was a fellow member of The Church of Jesus Christ of Latter-day Saints Spanish-speaking branch in Millcreek. In some cases, it was a local church leader who suggested they talk with Avila about becoming legal. "

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Rick Koerber

"Federal prosecutors on Tuesday accused an Alpine man of defrauding investors in a multimillion dollar real estate scheme.

U.S. Attorney Brett Tolman said Rick Koerber collected more than $100 million from investors but spent much of it on expensive cars, restaurants, movie making and his own housing. Tolman announced a three-count indictment of Koerber on Tuesday.

The number of victims, most of whom live in Utah, could be in the hundreds, said Tolman. But investigators have yet to determine which of Koerber's investors are "purely victims" and who may have "facilitated the crime," he said.

Koerber, who dubs himself a "Capitalist, Mormon, Dad" on his Web site, could not be reached for comment Thursday. Koerber was an ardent backer and donor to the school voucher movement in 2007. "
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New York Times article on Daren Palmer, faithful Mormon in Idaho Falls, who agreed this week to plead guilty in a $78 million dollar scheme where he conned his family and his fellow Mormons.

http://is.gd/inUQmH
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SALT LAKE CITY -- A Lindon man suspected of orchestrating a Ponzi scheme and defrauding investors out of more than $18 million pleaded guilty to wire fraud in federal court on Thursday.

Jeffrey Lane Mowen, 48, entered the plea as part of a deal with federal prosecutors. In exchange, prosecutors dropped two additional charges of wire fraud, as well as charges of solicitation to commit a crime of violence, tampering with a witness and retaliating against a witness.

Melodie Rydalch, a spokeswoman for the U.S. Attorney's Office in Utah, said though Mowen will be sentenced later, his penalty has already been determined.
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Wayne Ogden from Ogden, Utah. Active LDS at time of multi-million dollar ponzi scheme.
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The U.S. Securities and Exchange Commission filed a securities fraud lawsuit last month against Salt Lake City-based Art Intellect Inc. and its three principals, Patrick Merrill Brody, Laura A. Roser, and Gregory D. Wood.

In its original complaint, the SEC says Art Intellect, which operates under the name Mason Hill, collected more than $2.5 million from about 75 investors since April, 2009. The company reportedly claimed that the funds would be used to buy and rehabilitate distressed real estate in Ohio, Florida, and Kansas, and that the company would find renters for each of the properties. The properties were not identified in the lawsuit.

Investors, who were allegedly asked to submit a deposit of $20,000 per property, reportedly were promised returns of 10 percent to 30 percent, with monthly net rental profits of $650 to $1,000.

However, the SEC alleges that the funds were used for Mason Hill's operating expenses, as well as to pay for "lavish trips" and personal expenses for Mr. Brody and Ms. Roser. Funds from later investors also were reportedly used to buy properties and make payments to earlier investors.
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n March 23, 2011, it filed a complaint against Mike Watson Capital, LLC, a company based in Provo, Utah. The SEC also named Michael P. Watson, a resident of Mapleton, Utah, and Joshua F. Escobedo, a resident of Spanish Fork, Utah as defendants. According to its press release the SEC has alleged that Watson and Escobedo “raised more than $27.5 million from more than 120 investors through Mike Watson Capital’s issuance of promissory notes… Watson and Escobedo told investors that returns were generated by real estate investments, and backed by substantial equity and cash flow produced by company properties. In reality, the properties never generated sufficient income to cover investment interest or redemptions, and therefore investor returns were paid primarily from new investors’ funds.” The SEC alleged that the company owes more than $19 million in unpaid principal and interest on its promissory notes to investors, its real estate portfolio has tanked, and commercial banks have foreclosed on at least nine properties. This one looks pretty grim for the people who initially invested $27 million of their hard-earned money with these two Utah County guys -
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http://www.sltrib.com/sltrib/money/51503972-79/investors-clark-complaint-payday.html.csp
A Hyde Park man has been accused in federal court of orchestrating a Ponzi scheme under the guise of an online payday loan company.

The Securities and Exchange Commission on Friday filed a complaint in U.S. District Court against John Scott Clark, 58, and his businesses, Logan-based Impact Cash and Impact Payment Systems. The SEC alleges that between March 2006 and September 2010, more than $47 million was raised from 120 investors who were promised lavish returns for funding payday loans.

According to the complaint, Clark sold securities through both companies that totaled $47 million. About $4 million of that allegedly was raised for equity investments in the companies, while the rest came from investors who agreed to provide capital to the companies for payday loans.
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Raymond P. Morris, 42, of Draper, conducted an unregistered offering and operated the Ponzi scheme “at least” between March 2007 and January 2009. The scheme defrauded “at least 90 investors” and was a Ponzi out of the gate, the agency said.Three other Utah men, including attorney Luc D. Nguyen, 40, of Draper, helped the fraud spread by conducting no due diligence, recklessly repeating assertions made by Morris as though they were truthful and coming up with their own lies to drive money to the scheme, the agency alleged.Also charged were James L. Haley, 49, of Draper, and Jay J. Linford, 49, of Orem.
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PROVO - The aftermath of a massive Ponzi scheme that may have affected hundreds in Utah County has turned into a nasty tangle of overlapping court cases.
The questions are as basic as who is a victim and who is a perpetrator. And the answers likely won't come any time soon.
Prosecutors last October secured a temporary restraining order from 4th District Judge Fred Howard freezing over $2 million in assets belonging to several people connected with the California payday lending company Money & More.
Prosecutors in April filed an array of securities fraud and money laundering charges against five people: Larry O. Bosh, of St. George; D. Shawn Benson, of Ivins, Washington County; Michael J. Smith, of Mona, Juab County; David Q. Poulsen, of Salem; and Gale Robinson, of San Jacinto, Calif., the owner of Money & More.
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SALT LAKE CITY (AP)-

A Utah money manager accused of running a multimillion-dollar Ponzi scheme has pleaded guilty to a federal wire fraud charge in exchange for a 10-year prison sentence.
Jeffrey Mowen entered the plea in Salt Lake City's U.S.
udge Dee Benson set sentencing for April 15.
As part of the plea agreement, Mowen will forfeit any assets gained from the scheme, including 29 cars that were not sold at public auction.
Defense attorney Stephen McCaughey says in exchange for the plea, prosecutors agreed to drop a murder-for-hire charge.
Prosecutors contend Mowen defrauded investors of millions of dollars and tried to arrange the killing of four witnesses. He was arrested last April in Panama.
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SEC: Two Utah County Men Ran Ponzi Scheme
Ballard Spahr partner Brent R. Baker is representing one of two Utah men accused in federal court of running a $27.5 million Ponzi scheme. Mr. Baker's client is accused of posing as a broker for a Provo-based business, according to a complaint filed by the Securities and Exchange Commission.

Mr. Baker said his client wasn’t aware that the business was running a Ponzi scheme and has been cooperating with the SEC investigation. He "is looking forward to putting this behind him," Mr. Baker said.
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Utah Ponzi Scheme Revealed

His name is John Scott Clark, and according to the Securities and Exchange Commission, he’s a Ponzier. The Utah man and his two funds, Impact Cash and Impact Payment Systems, scored $47 million from gullible investors, including three hedge funds that should have known better.

You forgot Paul Dunn and the AFCO affair.

http://nowscape.com/mormon/dunn.htm

Joseph Smith was a fraudster, structured his church around deceit and exploitation...it's only fitting that his spiritual descendants follow his example.

I didn't know anything about Pat Brody being indicted for fraud, AGAIN, for the Art Intellect thing. This guy is so much slimier than Joseph Smith. But how the hell?????????

The back story is long... google "Merrill Scott & Associates." I used to work for them. I was one of the lucky ones who got laid off in the first wave. At least we got severance pay, unemployment and relocation assistance. Six months later the rest of the staff got locked out when the SEC came in and shut the doors. Those people didn't even get their last pay check.

The news reports don't really give the whole story of the company and how it turned into a ponzi scheme, but there were some really good people who tried to reign Pat in when he put his hands in all the cookie jars. But when it came down to it, he'd set himself up as president of all the decontrolled foreign corporations at the end of the line (I used to want to ask our clients, "what part of the word 'decontrolled' do you not understand?") But it was still the most fun job I ever had. I worked as a legal assistant to the corporate counsel, a great non-mormon guy who got taken down too, just because he wasn't going to let innocent people take the fall. I saw him put his own money into the till several times to make sure the staff got paid.

Anyway, the company went into receivership and for the past decade has been in many lawsuits by clients trying to recover money, Pat lost the civil suit by the SEC to the tune of 16 million in fines and was finally indicted for fraud in 2008. I don't know what happened to that suit because they finally "got him" last Fall, but it was only a suit by the IRS for failure to file a tax return in 2001 and he was supposedly sentenced to 10 months in jail.

So during all that time he's out there creating more fradulent companies? The Art Intellect indictment just barely came in April of this year. Did he serve any time in jail? It says the woman who was also indicted is his wife. She would have to be his third or fourth wife--she's not the same one he was married to in 2000, who was not his first wife. It says he and his wife were living a lavish lifestyle. What? When he somehow had to cough up 16 million for Merrill Scott suit? But it was probably the way he lived lavishly then. He'd brag that he lived like a king and didn't own anything. Which was technically true.

Although I was still attending church when I worked there, I was a non-believer, it was just a year or so before I resigned. One of the other attorneys told me one time that their missions taught them they could sell anyone on anything. But what I don't understand is why anyone, in this day and age, would invest thousands of dollars with a person and not even google his name. If they googled "Patrick Brody" they'd have known he was so deeply embroiled in other fraud suits already. Geez, can you imagine what kind of schemes JS could come up with if he lived in our time? Trust me, Pat Brody would have been his right hand man.

Oh BTW, that was a great run-down. Glad I read it to catch up on the goings on of my former "boss."

but the guy was my neighbor and he was the bishop of my parents' ward at one time--see if you can google "Ken Oakeson"--

I lived in Brigham when Udy was a SP. Amazing how far they can fall--just glad I wasn't one of his victims. My nephew was one of Oakeson's victims (he worked for the company he embezzled money from).

Ooh, I have some information that I'm not sure if I can share, but a recently called mission president is being investigated by the state attorney general for Medicaid Fraud. He is also being audited by the IRS at the same time. His books are stinky.
I watched it happen, but it's all going to unfold while he's out as Mission Prez.

What will happen?
I'm guessing someone else will become scapegoat.

What is it with these guys? The podiatrist down the street from me is being investigated a second time by the FBI for Medicare fraud. The first time it happened, they confiscated all his records and computers and took him to court. The prosecutors brought in all these elderly people to testify, and the podiatrist's defense grilled them all and got them all stammering about what they remembered, so the doctor got off the hook and apparently went right back to defrauding Medicare. (I'm friends with one of the state board members who are investigating the guy, and he keeps me up to date.) I hope they have a better case against him next time. He's a pretty young guy, like in his 40's, and just sent his son on a mission. He and several other local LDS professionals who are his close associates serve in stake callings here.



Edited 1 time(s). Last edit at 07/21/2011 12:20PM by cludgie.

I knew a guy in Cedar City who was gathering investors to make a movie with a Mormon theme. He had the whole story line and would market it to active members, who loved the story. He gathered a number of investors and pocketed the cash. I don't know what ended up happening to him.

I like it. Thanks for the idea.

Don't forget the recent play titled "Erin's Promise," which promised investors and advertisers good returns. The play was amateurish and was cancelled before it got to Slat Lake City. The people (Mormon) who put the play together claimed it would be as big as "Saturday's Warrior."

ahhh one I forgot..

Bishop Beardall shame on you!
All Active big shot Mormons...



Execs to pay $39.1M in restitution

The executives of a now defunct American Fork-based charity that had promised hundreds of school districts "free" fitness equipment in what turned out to be a Ponzi scheme, were ordered to pay $39.1 million in restitution and serve lengthy prison terms, a federal judge in Minneapolis ruled on Friday.

U.S. District Judge Joan E. Ericksen sentenced Cameron J. Lewis, 36, of Highland, to 17 years in prison for his role as mastermind, and his father, J. Tyron Lewis, 65, of Monticello, to more than five years for running an illegal pyramid scheme that defrauded more than 350 school districts nationwide, and dozens of banks of more than $40 million.

The Lewises were each found guilty and convicted in December 2006 on five counts of mail fraud, nine counts of wire fraud, one count of bank fraud, one count of conspiracy to launder funds and 13 counts of money laundering. Cameron Lewis was also convicted on one additional count of money laundering.

Attorneys for the Lewises could not be reached for comment on the men's sentencing.

Former CEO Cameron Lewis and his father, Tyron, who was chairman of the board of trustees, headed the National School Fitness Foundation from 1999 through 2004, until allegations emerged that it stopped making reimbursement payments for $77.5 million in fitness equipment it placed in 600 schools in 20 states.

A total of 131 schools in Utah bought into the foundation's program, which required the schools to buy the fitness program with the expectation that the money would eventually be reimbursed by the foundation through government grants and private donations. Instead, the foundation received little in grants, and the school districts that got in early were repaid with funds from those that got in later, making it a Ponzi type scheme.

On Monday, Paul Murphy of the Utah Attorney General's Office said none of the 131 Utah schools that put money in the bankrupt foundation have asked the state to file criminal charges against the foundation. He couldn't specify immediately if the office has plans to do so at this point.

When the foundation filed for bankruptcy in 2004, Alpine School District was stuck with a $1.7 million debt, which it has since paid off. Granite, Box Elder, Cache County and Davis school districts had all obtained financing from banks to buy the equipment and program.

The Lewises failed to disclose to the school districts that they personally profited from the foundation through payments from vendors and failed to reveal the foundation's lackluster fundraising and its precarious financial condition.

Trial evidence also showed that Cameron and Tyron Lewis paid themselves $1.4 million on the eve of the company's collapse in 2004, before repaying school districts and banks. The evidence also showed that the duo conspired to launder hundreds of thousands of dollars in proceeds from their fraud by making lulling payments to school districts and using funds to remodel their homes.

In June 2004, the Utah Division of Consumer Protection pulled the foundation's charitable solicitation license after conducting an investigation.

Cameron Lewis' sister, Shanna L. Black, 28, of Lehi, pleaded guilty in February 2006 to a misdemeanor charge in connection to the foundation's operation. The company's former chief financial officer, Marion H. Markle, 45, of Highland pleaded guilty in April 2006 to a felony related to the scheme to defraud, and testified for the government at trial.

In a related case, Joseph Mont Beardall, president of School Fitness Systems LLC, which provided the equipment to the National School Fitness Foundation, pleaded guilty in 2004 to defrauding financial institutions and Minnesota school districts of more than $1 million.

As part of his plea agreement, Beardall agreed to pay restitution to victims by selling all his personal and real property and having School Fitness Systems surrender its assets, including inventory and bank accounts valued at about $2.6 million to be paid toward restitution.

Read more: http://www.heraldextra.com/news/article_ebda229e-b9a0-5b46-976c-ab547ffe9b25.html#ixzz1SmkIqw00

Mormon men think they are already gods. Look at the women are treated. How would it have gotten so bad if their husbands had actually supported them and treated them as equals. They are used to getting their way,with no consequences. Scams are perfect.
They perfect the art of lying and covering up.My dh (going to couty in the morning!!) would be a top notch scammer. Oh yeah-he already is.