PROVO, Utah (AP) - A 4th District Judge has issued an order freezing $2.3 million in real estate, cars and other assets as part of an investigation into an alleged $59 million Ponzi scheme.
The move by Judge Fred Howard is unusual. Typically courts don't order asset seizure until after criminal charges are filed or a conviction is secured.
But Utah County investigator Jeff Robinson says the county attorney's office sought the seizure to prevent the assets from being sold off or hidden as the investigation continues.
An affidavit filed with the court Sept. 30 names five people being investigated for securities fraud: Larry O. Bosh, of St. George; D. Shawn Benson, of Ivins, Washington County; Michael Smith, of Mona, Juab County; David Q. Poulsen, of Salem, Utah County; and Gale Robinson, of San Jacinto, Calif.
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Information from: The Salt Lake Tribune,
http://www.sltrib.com
(Copyright 2009 by The Associated Press. All Rights Reserved.)
