Victim Resources

The Utah Division of Securities is committed to assisting the victims of securities fraud. This resource is designed to ensure the needs and questions of victims are promptly addressed, to the extent permitted by law. The “Links” listed below provide additional information. If you receive a notice from our office that a case has been referred for legal action or legal action has been filed on a case, you can access further updates via the “Multi-Victim Case Update” link below.

Seeking Victim Surveys

The Utah Division of Securities (the Division) regularly conducts investor surveys to evaluate investment offerings and their compliance under the Utah Uniform Securities Act, Utah Code §61-1. Investor Surveys aim to better understand the investment experience and to compare investor records with those on file with the business.

If you have been identified as a possible investor in an investment offering under review, you may receive a request from the Division via email or mail to complete survey information in a case. The fact that the Division is conducting a survey does not mean that violations of securities rules or laws have occurred.

Surveys are fact-finding tools that help the Division understand information about the investment from the investor’s perspective. If you have received a survey link and have questions about a survey, please contact us at [email protected]

Case Specific Information

For large-scale cases involving hundreds of victims, we have created a case webpage to provide victims with information and updates. If you believe you are a victim of one of these cases, please visit this page often to view recent case developments.

Resources

Rights

Under the Utah Constitution (Article I, Section 28) and Utah Code (Title 77, Chapter 37 and 38), victims in Utah have rights. These rights include:

Victims have the right “to be treated with fairness, respect, and dignity, and to be free from harassment and abuse throughout the criminal justice process.”
Victims have the right to be informed and assisted as to their role in the criminal justice process, including clear explanations regarding legal proceedings.
Victims have the right to be present and heard at important criminal justice and juvenile justice hearings. Those hearings include preliminary hearings, arraignment, any court proceeding involving the disposition of charges or the delay of a previously scheduled trial date, a court proceeding relating to the release of the defendant from custody, the criminal trial, sentencing hearings, and parole hearings.
Victims have the right to be heard, and that right may be exercised at the victim’s discretion in any appropriate fashion, including an oral, written, audio taped, or videotaped statement or direct or indirect information that has been provided to the prosecutor or investigator.
Victims have the right to receive notice of important criminal justice hearings in felony cases. The victim’s address, telephone number, and written impact statement are protected and only available to a limited group of victim specialists.
Victims of several violent and sexual crimes may request a pretrial criminal no-contact order be issued by the court.
Victims have the right to a speedy disposition of the charges, free from unwarranted delay caused by the defendant, and to a prompt and final conclusion of the case after the disposition or conviction and sentence.
Victims have the right to have the sentencing judge receive and consider information about the impact of the crime upon the victim and any other information the victim would like to share with the sentencing judge.
Victims have a right to have a representative exercise the same rights that the victim is entitled to.
Victims have the right to restitution.
Victims have the right to have any personal property obtained in an investigation returned to the victim when the property is no longer needed by the court or prosecution.
Victims have the right to object to a petition for expungement.
Victims of sexual assault have the right to have their confidential communication with a sexual assault counselor remain confidential.
Additionally, should a convicted person, or representative of the convicted person, receive a profit from the sale or transfer of memorabilia, the profit shall be given to the Crime Victim Reparations Fund.

Notification Programs

Victim Information Notification (VINE) is the state of Utah's automated victim notification service. It provides information about the custody status of offenders in Utah prisons and jails. You may also register to receive automated messages by telephone or email when a particular offender is released, transferred, or escapes.

VINELink Information and Registration
Toll-free phone support is available 24/7/365 for callers who need help locating an offender, registering for notifications, or accessing victim services in their area. Over 200 languages are available via live operator support at 1-877-884-8463.

Impact Statements

A Victim Impact Statement describes the emotional, physical, and financial impact you and others have suffered as a direct result of a crime. These statements can be provided in either written or oral form.

What is the Purpose of a Victim Impact Statement?

Personal Expression
It provides an opportunity to express in your own words what you and your loved ones have experienced. Many victims find that this process helps provide a sense of closure.
Assisting the Judge
While judges follow specific legal guidelines and reports, they are required to consider the victim's perspective. Your statement helps the judge determine a fair and appropriate sentence.
Restitution
The statement includes a summary of your financial losses. The judge uses this to determine if the defendant should be ordered to pay restitution. This is money intended to compensate you for out-of-pocket expenses or losses caused by the crime.

Written Impact Statements

Written statements are submitted to the prosecution or the court's probation department for inclusion in the Presentence Investigation Report. This report is provided to the judge before the sentencing hearing. A written statement allows the judge time to carefully review and reflect on your words before making a final decision. You can use whatever format feels most comfortable, including formal statements or personal narratives, a letter addressed directly to the judge, or standard form provided by the victim-witness office.

Oral Impact Statements

Written statements are submitted to the prosecution or the court's probation department for inclusion in the Presentence Investigation Report. This report is provided to the judge before the sentencing hearing. A written statement allows the judge time to carefully review and reflect on your words before making a final decision. You can use whatever format feels most comfortable, including formal statements or personal narratives, a letter addressed directly to the judge, or standard form provided by the victim-witness office.

FAQs

Restitution to investors varies from case to case, and many factors come into play in determining how much, if any, an investor may receive back. Additionally, restitution depends on the existence of assets or funds to seize or recoup. We will make efforts to obtain restitution, but this is dependent on various factors, including whether any funds remain to be seized/recouped. Unfortunately, there is no guarantee.

Possibly. First, the Division and a federal, state, or county prosecutor must decide whether to file criminal charges. If criminal charges are filed, the matter proceeds through the court system, which may lead to a conviction. If convicted, a judge determines the sentence, which may include jail, prison, probation, community service, or other punishments. You should also be aware that some investigations result in the finding that no violations occurred, thus no legal action is taken.

Once an order of restitution is issued, the government will pursue various means to enforce restitution, as its resources permit, on behalf of identified victims for 20 years from the filing date of the Judgment, plus the time period of actual incarceration, or until the defendant's death. In addition, while a defendant is under the supervision of a probation officer, that probation officer will also monitor and, where possible, ensure appropriate restitution is paid. Realistically, however, the chance of full recovery is very low. Many defendants will not have sufficient assets to repay their victims. Many defendants owe very large restitution amounts to numerous victims. In federal cases, restitution in the hundreds of thousands or millions of dollars is not unusual. While defendants may make partial payments toward the full restitution, it is rare that they are able to pay the entire amount. If and when the defendant pays, you will most likely receive a series of small payments over a long period of time.

Restitution payments received will be processed, accounted for, tracked, and then disbursed to you (and any other restitution victims) by the Clerk of the applicable Court in which the case was filed. The Clerk's Office disburses money to victims as it receives payments from the defendant. Unless the Court has ordered otherwise, payments to victims are disbursed on a pro rata basis, meaning each payment will be divided among the victims in proportion to their losses.

Enforcement of the restitution order is pursued by the assigned prosecutor’s office. Restitution may be limited by the defendant's economic circumstances. If you have any information that will assist our efforts to collect your restitution, please contact us. Information about a defendant's assets, income, and employment can be very helpful in collecting money from an unwilling defendant. You are entitled to request from the Clerk's office a document called an Abstract of Judgment. When properly recorded pursuant to state law (such as in a County Clerk's Office in a county where the defendant owns property), the Abstract of Judgment can give you a lien in your own name against the defendant's property. You will then have the same legal rights as any other civil judgment lien creditor, which means you can collect the money from the defendant yourself. You must bear the cost of recording the Abstract of Judgment. If you request an Abstract of Judgment from the Clerk's Office by mail, you must include a self-addressed and stamped envelope.

Your contact information is on file if you have participated in the investigation of the case. If restitution has been ordered to you, it is your responsibility to update any change in contact information to include address, telephone number, name, or email address with the prosecutor’s office or the court. If the Clerk's Office does not have your correct mailing address, your share of payments from the defendant may be sent to other restitution victims.

While enforcement efforts may benefit you as a victim of a crime, neither the Division nor the prosecutor’s office, nor any employee thereof, is your attorney. We strongly encourage you to discuss the Court's restitution order and all enforcement mechanisms with your own attorney and your accountant, tax preparer, or CPA. If the restitution order does not cover all of your losses or if the restitution order is not due and payable in full immediately, or if the laws of your state provide you an effective means by which to enforce the collection of the restitution civilly, your attorney can help you understand your options and, if necessary, formulate a plan for civil enforcement that will complement the government's efforts. If you enforce a restitution order on your own behalf and collect money from the defendant, you must provide that information to this office and to the Clerk's office.