I'm in share local story mode. utah has long been subject, or sucker to con artists, who tend to use "the church", as a base to take advantage of people.
Utah Where the Con, is on.
Some in the affluent community lost their homes or saw them depreciate through bad investments or living beyond their means. But at least nine people have been convicted for their roles in mortgage fraud schemes that devastated the neighborhood.Utah, we were No. 1
Utah gained its reputation for fraud years ago.
In the 1980s, penny-stock schemes, which originated here and had ties to organized crime, stole millions of dollars from investors.
The history of fraud has motivated the U.S. Securities and Exchange Commission to maintain an office in Salt Lake City. The U.S. attorney for Utah says he recently added white-collar prosecutors, and state and federal leaders have created a mortgage-fraud task force.
"Some police departments say, 'I can solve 50 other cases in the amount of time it would take me to solve a white-collar case,'" Torgensen said.
Fraud-case overload
In Taylorsville, police Detective Shannon Bennett said he would probably investigate a mortgage fraud case only if all the parties were in Taylorsville.
His caseload is filled with identity thefts, exploitation of the elderly and check fraud. Bennett said he is assigned about 40 fraud cases a month; he makes arrests in about one-fifth.
Bottoming out
Fraud also is blamed for staggering Utah's economy.
The River Bottoms was once thought to be immune from downturns in the market, said Provo City Councilwoman Cynthia Dayton. Now for-sale signs or signs announcing public auctions dot the community.
"A lot of people [in the River Bottoms] are transplants," Dayton said. "They come here and look for some kind of housing where they can do better."
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