“The amount of the fine corresponds to the vast scope of Mr. Peck’s enterprise. He blatantly violated Utah law to enrich himself,” said Chris Parker, Executive Director of the Utah Department of Commerce.
According to the stipulated agreement, Peck is the owner of Source Investments, LLC. During late 2017 and early 2018, Mr. Peck was hired to work as a subcontractor on at least 1,147 jobs by 47 different licensed contractors. Mr. Peck misled contractors about his company, Source Investments, LLC, saying it was part of a legitimate contracting business, “Source Construction, LLC”.
Mr. Peck then utilized unlicensed individuals working as independent contractors to perform the subcontracted drywall work, for which Peck received at least $14,060,964.37. In the federal case, investigators believed Source Investments, LLC, was also used to avoid employment taxes and higher worker’s compensation premiums.
As part of the stipulation, Mr. Peck agreed not to apply for licensure as a contractor in the state of Utah for at least five years.