Alleged Utah Fraudster Settles Ponzi Scheme Claims

Law360, New York (December 8, 2011, 6:11 PM EST) -- One of the defendants in an $18 million securities fraud case in Utah reached a deal with the U.S. Securities and Exchange Commission on Wednesday, with the agency promising to seek monetary damages for his alleged role in a phony investment ring that landed another man behind bars.

Although he did not admit guilt, Thomas R. Fry’s settlement with the SEC means he could face contempt-of-court charges if he runs afoul of securities laws and regulations again, and leaves the window open for the SEC to...
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