C. Dean Larsen surrendered himself to authorities Friday morning, appearing briefly before 3rd Circuit Judge Dennis M. Fuchs before being escorted to the Salt Lake County Jail for booking.
Larsen was charged Wednesday with 50 felony counts, including unlawful dealing with property by a fiduciary, sale or offer of unregistered security, theft and securities fraud in excess of $1.9 million.Larsen remained silent during his brief appearance before the judge. He was accompanied by his attorney, Larry R. Keller.
Fuchs set a preliminary hearing for Larsen on Dec. 5 at 9:30 a.m. before Judge Robin Reese in the Sandy Department of the 3rd Circuit Court.
Following his appearance before the judge, Larsen was taken to the basement of the jail where his pictures and fingerprints were taken.
Larsen has maintained a steadfast silence since the media reported two weeks ago that the state was concluding a lengthy criminal investigation into Larsen and his company, Granada, Inc.
Larsen was released on his own recognizance because he doesn't have a previous criminal record, owns property in Utah, has family ties here and does not appear to be a flight risk, said Paul M. Warner, associate deputy attorney general.
Larsen is former president of Granada, a bankrupt real estate development company that took in over $94 million from investors during its 16-year history. The company was owned by Larsen and his family. Scores of investors - primarily doctors, dentists and retirement funds for medical workers - lost millions of dollars in the company. Creditors and investors have filed claims of nearly $50 million against the bankrupt company.