Financial Fraud cases in Utah

Published: Monday, Feb. 6 2012 11:57 a.m. MST

Wendell and Allen Jacobson, Fountain Green Next » 1 of 10 « Prev
FBI raid in Fountain Green Photo Credit: Deseret News
According to the SEC, this father son duo misled about 225 investors to raise more than $220 million since 2008.

Management Solutions was the name of their program. They said they bought apartment complexes with low residency rates, then revamped and resold them. Promises made to investors about returns were untrue, and the program was a ponzi scheme.

The SEC said that the Jacobsons appeared to be using their membership on the LDS church to win trust and make connections.
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