2 men are sentenced for home-equity scam

Two men have been sentenced for their role in a home-equity scam.

Kevin Lawrence Wright, 39, and Michael Stephen Hurst, 44, were sentenced Monday in Salt Lake City's 3rd District Court to two years probation and ordered to serve 500 hours community service. Wright was also sentenced to 20 days in jail.

The Utah Attorney General's Office said Wright and Hurst persuaded a man to take out a home loan for $810,000 on a home he bought for $590,000. The remaining money would was to go into a reserve for making payments and would be invested into a mutual fund.

The investor did not receive the money. Instead, prosecutor allege Wright used the victim's money to pay off a debt and Hurst used some of it for a diamond investment scheme.

Both men have paid $143,410 in restitution. They have also been fined $1,000.