2 Utah men convicted of fraud charged in $11M scheme

2 Utah men convicted of fraud charged in $11M scheme

SALT LAKE CITY (AP) — The Securities and Exchange Commission has said two Utah men who met in prison while serving time for unrelated fraud schemes have been charged in federal court over a fraudulent trading program one of them claimed to have received in a “spiritual revelation.” The Deseret News reported that a complaint filed in U.S. District Court in Salt Lake City alleges 65-year-old Thomas J. Robbins and 50-year-old Daniel J. Merriman and two other men cheated 80 investors of $11 million. Each of the men agreed to repay hundreds of thousands of dollars in illegally obtained funds with interest as well as fines without admitting or denying the allegations.