Below you'll find a list of all posts that have been categorized as “Division of Securities”
World Elder Abuse Awareness Day is observed every year on June 15th, making it the perfect time to talk about a growing danger: financial scams that target older adults. Scammers are using much trickier tools these days, including fake cryptocurrency deals, automated social media messages, and artificial intelligence to clone people’s voices or faces. Enforcement data from 2024 shows that …
As the Utah Division of Securities continues to monitor emerging financial threats, the BG Wealth Sharing Group (also known as BG Wealth Sharing LTD) has surfaced as a significant concern for Utahns. While this group markets itself as an elite investment hedge fund offering high-return cryptocurrency opportunities through the DSJ Exchange, our investigations and reports from federal authorities reveal a …
6/24/2026 UPDATE — Updated Criminal Sentencing Date9/2/2026 at 11:00 AM in Room 2B 206 (St George) before District Judge Ann Marie McIff AllenCaution Regarding Recovery ScamsThe Division has received reports concerning fictitious law firms targeting former RentDue Capital investors on social media and various messaging platforms, falsely claiming they have the authorization to investigate cases and recover lost funds. To protect …
The Utah Division of Securities (Division) is issuing a warning about BG Wealth Sharing LTD. The Alberta Securities Commission (ASC) issued a formal warning, and the Division encourages anyone approached about an investment or business opportunity with or in BG Wealth Sharing LTD to read before giving anyone your hard earned money. BG Wealth Sharing Ltd. claims to be an investment group offering high-return opportunities through a …
Strengthening trust in Utah’s commercial activities and protecting consumers was the driving commitment behind every milestone the Department of Commerce achieved in 2025. This past year saw us launch the Office of the Homeowners’ Association and host the Utah AI Summit, successes that clearly mark 2025 as a landmark year for our department. These achievements are a testament to our …
The final judgment against Safeguard Metals LLC and Jeffrey Ikahn orders restitution and a civil monetary penalty; underscores commitment to protect seniors from investment fraud Salt Lake City—Utah’s Department of Commerce’s Division of Securities (Division), represented by the Office of the Utah Attorney General (OAG), today announced that the U.S. District Court for the Central District of California recently entered a …
SALT LAKE CITY, Utah – A Belgian national in the United States operated a $5 million Ponzi scheme over the course of five years was sentenced to 60 months’ imprisonment. Kenny Dirk Van Der Spek, 36, who was living in South Jordan, Utah, pleaded guilty to securities fraud, wire fraud and money laundering in May 2025, after he defrauded approximately …
SALT LAKE CITY, UT—The Utah Department of Commerce’s Division of Securities (Division) announced a modification to its guidance for registered investment adviser (RIA) firms regarding reasonable hourly fees. Effective immediately, RIA firms may set hourly rates they deem reasonable based upon their experience and expertise, with the Division maintaining its statutory authority to seek sanctions against RIA firms that charge …
Salt Lake City, Utah—The Utah Department of Commerce has appointed Robert Cummings as the new Director of the Utah Division of Securities (Division). Cummings brings over 15 years of experience in civil and criminal litigation, along with a strong passion for public service, to his new role. He has tried several cases in the securities industry, including criminal securities fraud …
