Oregon man ordered to pay $413K for defrauding Utah investors in elaborate foreign currency trading and Brazilian emerald selling schemes

SALT LAKE CITY, Utah – The Utah Securities Commission issued a Final Order against Jack Phillips, an Oregon resident, for conning Utah investors into several phony investment schemes involving travel cards, foreign currency trading, andimporting Brazilian emeralds for sale all while promising guaranteed returns of 300 to 500% with no risk to investors. The Final Order states Phillips violated Utah …

Securities Commission approves first whistleblower award for $15K since S.B. 100 Securities Fraud Reporting Program Act passed in 2011

SALT LAKE CITY, Utah – The Utah Securities Commission announced today that Commission members approved the Commission’s first ever whistleblower award for $15,000 to St. George financial advisor, LaMond Syphus, for his actions in reporting investment fraud to Division of Securities investigators which resulted in criminal charges. Syphus toldDivision investigators that a potential client, a recent widow, had come into …

Division of Consumer Protection reminds drivers to check out vehicles “bumper-to-bumper” before hitting road trips statewide this spring, summer

SALT LAKE CITY, Utah ‐ Francine A. Giani, Executive Director of the UtahDepartment of Commerce, announced today that the Utah Division of Consumer Protection is reminding the public to check out their vehicles, campers or trailers road readiness with a trusted mechanic before heading out of town. According to AAA Auto Club, 36.1 Million drivers are expected to travel 50 …

Division of Consumer Protection warns Utahns to watch for mudslide charity scams in the wake of massive Washington State Tragedy in Snohomish County

SALT LAKE CITY, Utah ‐ Francine A. Giani, Executive Director of the Utah Department of Commerce, announced today that the Utah Division of Consumer Protection is asking the public to be on the lookout for possible mudslide‐related scams seeking to take advantage of our community’s trusting nature following Washington State’s weekend tragedy. While no confirmed reports of mudslide charity schemes …

Utah Division of Consumer Protection releases Top Ten Consumer Complaints 2013 list for 16th annual National Consumer Protection Week

SALT LAKE CITY, Utah ‐ Francine A. Giani, Executive Director of the Utah Department of Commerce, announced today that the Utah Division of Consumer Protection is releasing its annual Top Ten Consumer Complaints as part of the 16thannual National Consumer Protection Week from March 2‐8, 2014. The Division is also highlighting the Federal Trade Commission’s 2013 “Consumer Sentinel” report which …

Division of Securities issues investor warning on medical marijuana offers

SALT LAKE CITY, Utah – Francine A. Giani, Executive Director of the Utah Department of Commerce, announced today that the Division of Securities is warning Utah investors to be on the lookout for investment pitches that may use medical marijuana businesses in other states as the basis for “hot” stock tips. With Fridays’ recent announcement by the White House that …

Division of Consumer Protection cites Labor Regulatory Compliance Office for deceptive mailer that targeted Utah businesses over fraudulent poster fees

SALT LAKE CITY, Utah ‐ Francine A. Giani, Executive Director of the Utah Department of Commerce, announced today that the Utah Division of Consumer Protection cited an unregistered entity, Labor Regulatory Compliance Office, forviolating the Utah Consumer Sales Practices Act. Division investigators report the St. George entity sent unsolicited letters to Utah companies with text suggesting it was a billing …

Real Estate Commission revokes Kyle Ashworth’s broker license for forging termite inspections, buyer signatures in elaborate FHA loan scheme

SALT LAKE CITY, Utah – The Utah Real Estate Commission announced today that an Order has been approved against Kyle D. Ashworth, of Vernal, for forging termite inspection documents and faking signatures of prospective buyers, in an elaborate scheme to illegally obtain Federal Housing Authority (FHA) loans. During a hearing January 15, 2013, theCommission revoked Ashworth’s license based on testimony …

Division of Consumer Protection joins $2.1 Billion Multi-State and Federal Settlement for “robo-signing” misconduct by Ocwen Financial Corporation

SALT LAKE CITY, Utah – Francine A. Giani, Executive Director of the Utah Department of Commerce, announced today that the Utah Division of Consumer Protection has signed onto a $2.1 billion joint state-federal settlement agreementwith Ocwen Financial Corporation, et al along with 49 states attorney generals, the District of Columbia and the Consumer Financial Protection Bureau (CFPB). The settlement targets …

Retailers proclaim Thanksgiving Day the new Black Friday”, Division of Consumer Protection offers savvy tips to stay safe shopping online or in‐person

SALT LAKE CITY, Utah ‐ Francine A. Giani, Executive Director of the Department of Commerce, announced today that the Utah Division of Consumer Protection is releasing its annual list of shopping tips ahead of Thanksgiving, Black Friday and Cyber Monday retail events to keep consumers safe and informed. The National Retail Federation (NRF) isestimating 2013 holiday retail sales to hit …