SALT LAKE CITY — A Utah County man will go to prison for securities and communication fraud related to various real estate investments and a water share project.
A 3rd District judge sentenced Steve Flygare to up to 15 years behind bars and ordered him to pay $2.2 million in restitution. The 58-year-old man was convicted of engaging in a pattern of unlawful activity against several investors between January 2007 and September 2008.
Flygare made numerous misrepresentations and used investor funds for personal and other expenses unrelated to the investments he pitched, according to the Utah Attorney General's Office. Flygare also used property he didn't own as collateral on investments.
— Dennis Romboy