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Date: July 26, 2020 09:59PM
"In 2009, Rector was linked to a Ponzi scheme organized by Utah residents Rick Koerber and Brad Kitchen who allegedly touted Rector as an investor, and victims reported Rector's name had been used to attract additional Latter-day Saint investors.[14] Rector was not accused of involvement with or awareness of any fraud; he declined requests from local media for comment while Koerber characterized Rector as a friend but refused to say if he was also an investor.[14] In 2018, Koerber was found guilty and in 2019 was sentenced to 14 years in prison for securities fraud."
https://en.wikipedia.org/wiki/Hartman_Rector_Jr.
https://www.cityweekly.net/utah/free-capitalist-rick-koerber/Content?oid=2140782"Before the federal charges, however, investors and former employees say Koerber was less bashful about advertising his religious beliefs. Insiders to Koerber’s business allege one of his tactics was telling potential investors that a former general authority of The Church of Jesus Christ of Latter Day Saints, Hartman Rector Jr. was also an investor in his business. Rector’s name carries some ecclesiastical weight among LDS members, and, critics allege, Koerber would drop it routinely, especially when attempting to recruit new investors...
In an e-mail statement, Koerber would not confirm or deny Rector’s position as an investor, except to say: “I consider Elder Hartman Rector Jr. a close personal friend. Any questions regarding Elder Rector and his reported involvement with me and/or my business would be best addressed directly to him.”
Smith, however, says he specifically remembers a seminar Koerber held at the Provo Marriott in late 2005 where Koerber singled out Rector in the crowd in the middle of his presentation"