SEC Accuses Utah Man Of $4M Ponzi Scheme

Law360, New York (August 8, 2013, 4:20 PM EDT) -- The U.S. Securities and Exchange Commission hit a Utah man with a lawsuit Thursday accusing him of running a Ponzi scheme that cheated investors out of $4 million, funds he allegedly used to pay former clients, lost in risky trades and spent on personal expenses including a family trip to Mexico.

Steven B. Heinz, 56, of Orem, allegedly scammed 15 investors by touting his trading strategy as the signature of a guaranteed fruitful investment, promising returns between 6 percent and 120 percent per year, according to...
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Case Information

Case Title

Securities and Exchange Commission v. Heinz et al

Case Number




Nature of Suit



David Sam

Date Filed

August 8, 2013

Government Agencies

UK Financial Services

UK Financial Services

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