All three were charged with wire fraud and money laundering conspiracy. Gaylen Rust is also charged with two counts of securities fraud. Denise Rust and Joshua Rust were each charged with one count of money laundering. Legacy Racing Inc. Denise Rust was listed as the secretary for Rust Rare Coin. Joshua Rust managed the coin shop from to The Rusts are accused of tricking people into believing they were pooling their money to buy and sell silver bullion, but the funds were allegedly used to pay other investors.
Denise Rust admitted that she was aware that Gaylen Rust had misrepresented to investors that their money would be used to buy and trade silver. Gaylen Rust made generous donations to school music programs the Legacy Music Alliance. In exchange for pleading to one count of money laundering, prosecutors dropped the wire fraud and money laundering conspiracy charges against Denise Rust.
Email required.Gaylen Rust, the owner of Rust Rare Coin, and his son, Joshua Daniel Rust, are charged with wire fraud and money laundering conspiracy. Gaylen Rust is also charged with two counts of securities fraud, while Joshua Rust is charged with one count of money laundering.
The indictment alleged that from to NovemberGaylen Rust conspired to defraud people by offering them stock in a silver trading program, using money from later participants to pay back the promised return to early investors. The money was never used to purchase silver, though, according to the court documents, and there was never any silver placed in depositories. Instead, the family spent the extra funds on thoroughbred horses, authorities said.
Additionally, Gaylen Rust was not licensed to sell or trade commodities. The family was also accused of creating fake account statements. Gaylen Rust is being sued by some of the investors. Sunday, October 11, Sign In. Sign Out. Wife of rare-coin dealer indicted for Ponzi scheme cuts a deal. By Alex Vejar.
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The spike continues: Utah announces 1, new coronavirus cases on Saturday.As many of you have waited for the outcome to the plea agreement for Denise you have to wait no more!
Denise denies knowing anything until very late in the scheme. She did acknowledge that she knew that she was using investor money to transfer funds into the racing account.
This has always been about what could be proven and they have charged her with what they could prove. The sentencing guideline is an interesting read and really sets up what was going on, it basically states that this benefitted the family and their businesses more than anything else other than the repayment of Ponzi payments.
Gaylen has cooked his own goose, he had Denise sending checks and wire transfers to his mistress without her knowing who she was and he was caught with hundreds of sexually oriented communications with other women. It seems that Denise thinks Josh had a role in the Ponzi or at least he had more knowledge of it than she did.
I know a lot of people are going to be upset with this, I'm upset with this, but ultimately we are all going to have to come to terms with it. I unfortunately will never be able to forgive but I will do my best to move on and I hope that everyone else will be able to do that as well.
I believe that all of them family stuck their heads in the sand and were happy to reach their hands out and take whatever they were given without question. We are all guilty of the fact that we wanted to be there when the money was made, that's true of all investments, we are guilty of putting our money in a place that wasn't secure when we thought it was, if we all believed that this was the way things were and never invested, this world would likely never grow through investment.
The biggest lessons learned so far is to make sure you know the individual taking your money and demand to see the investment, don't take anyone else's word on it, and second white collar crime pays!
Monday, July 6, Comments on actual plea deal. First of all let me apologize for the fact that I just cut and pasted the document and it didn't bring in all the formatting. As for what all of you are thinking I will say what I think are the most egregious things on here. Actual Plea Deal. I hereby acknowledge and certify that I have been advised of and that I understand the following facts and rights, and that I have had the assistance of counsel in reviewing, explaining, and entering into this agreement: 1.
My attorney has explained the nature of the charge against me, and I have had an opportunity to discuss the nature of the charge with my attorney. I understand the charge and what the United States is required to prove in order to convict me.
I know that the maximum possible penalty provided by law for Count 1 of the Felony Information, a violation of 18 U. I understand that if I violate a term or condition of supervised release, I can be returned to prison for the length of time provided in 18 U.
Furthermore, restitution to the victims of my offense shall be ordered pursuant to 18 U. I understand that, ifl am not a United States citizen, I may be removed from the United States, denied citizenship, and denied admission to the United States in the future. I know that the sentencing procedures in this case and the ultimate sentence will be determined pursuant to 18 U.
I have discussed these procedures with my attorney. I also know that the final calculation of my sentence by the Court may differ from any calculation the United States, my attorney, or I may have made, and I will not be able to withdraw my plea if this occurs. However, because my plea of guilty is being entered pursuant to Rule 11 c 1 Cas explained below, I know that I will be able to withdraw my plea if the Court does not accept the terms of this agreement.
I know that I can be represented by an attorney at every stage of the proceeding, and I know that if I cannot afford an attorney, one will be appointed to represent me. I know that I have a right to plead "Not Guilty" or maintain my earlier plea of "Not Guilty" and can have a trial on the charges against me. I know that I have a right to a trial by jury, and I know that if I stand trial by ajury: a.
I have a right to the assistance of counsel at every stage of the proceeding. I have a right to see and observe the witnesses who testify against me.This is from an older article regarding the actual charges. I googled the individual charges and pasted potential prison time: On Wednesday, May 8, a federal grand jury in the U.
Husband and wife Gaylen Dean Rust and Denise Gunderson Rust of Layton, both 59 years old, and their son, Joshua Daniel Rust of Draper, 37, were each charged with wire fraud conspiracy and money laundering conspiracy. Gaylen Rust also received two counts of securities fraud, while Denise and Joshua received one charge each of money laundering. Money Laundering: In general, the maximum sentencing for money laundering can be a prison sentence of 20 years.
That said, the penalties for money laundering may vary based upon the amount of money involved in the crime. Wire Fraud: A single act of wire fraud can result in fines and up to 20 years in prison.
Ponzi Tax Relief. I purchase the copy of turbotax and the Ponzi relief tax form is included in the tax year. I have been working with my CPA and wanted to share some great news. This is time sensitive End Jun 30 so if you want to take action you had best start right away. You had best see a CPA because I certainly am not one. My taxes think the CPA four weeks so you are already behind the curve it you think you qualify.
I used Craig Hanacy in Murray Utah. He can only take a few more customers. God Bless and good luck. I got back all my State and federal taxes paid from to present. Two of us victims listened in and this is what we came up with as a summary. Please don't shoot the messenger as we are not lawyers and some of what was said was very confusing especially on the defense side. June 16th 1. Please keep in mind I am not a lawyer and may have misunderstood some of what was said at the hearing.
Parr Brown made a great argument based on the actual minute by minute timeline and witness deposition statements. As a side note, Zions did have an employee stop the deposit and pull the 1. So we have Zions bank employee supposedly stopping the funds transfer based on a single news article and sending out payments from the Rust Account all during the freeze order period is my understanding.
Zions procedure is to accept wires, checks ect at various branches and hold them. At around 3am all the days business is load by computer and the transactions are then completed. Maybe months? Friday, January 10, January update.
So there has been a few things that have happened. There was a hearing with the judge regarding the Zions suit, the case was presented to the judge from Zions defense for their motion to dismiss, we are still waiting for the judges response, there is no good direction on how long it will take to get a response, so we will wait.
There is an update hearing scheduled for January 15th with the receiver, we believe that this is to update the sales of more of the properties. The criminal trial date is set for the 11th of May, if there is a plead done it will need to be done 30 days before that, discovery will stop on February 15th, it will be interesting to see if anyone covers for anybody else, my guess is that it's going to be all about me among these idiots.
I guess that we are just going to have to wait and see, if you hear anything please submit it and I will post it here as well. Don January 14, at AM. Don June 2, at AM. Don June 17, at AM.Bronson Clark and Cory Metz combined to run for yards and six touchdowns Friday night to lead Calhoun County to a season-opening victory over home standing Gilmer County. Gaylen Rust must have seemed trustworthy to the people who gave him money. Another Utah entrepreneur is being hailed for his business acumen.
Do I have a Case? By early the whistleblower concluded that the RRC businesses were operating fraudulently, that investor money was being commingled with other company funds, and that Gaylen Rust was likely running a massive a Ponzi scheme.
This is the Huge Studios company profile. View the profiles of professionals named "Rust" on LinkedIn. Buy online, then drive-thru for convenient pick-up service. Server for shooting practice in the game rust, arena, combat, monument training. Defendants signed checks issued to Silver Pool investors knowing that they were Ponzi payments involving repaying money recently contributed by other investors.
Antonyms for Civil Complaint. Create a cozy patio setting as you watch the flames dance from this unique leaf design fire bowl. Combine bohemian beauty with impressive comfort in your living space by adding this Lisbet handmade Boho medallion wool area rug. Kuntz - Gaylen Jones 0 Clarence B. Department Of War. Bold Sensation. Every second, the price of gold either rises or falls in response to the market. Rust was a longtime businessman in Layton, Utah, where he ran a coin shop started by his father in Rust also founded a charity called Legacy Music Alliance that funded arts programs in schools.
We teach them to dream. The year sounds like it's derived from science fiction, yet here we are — about to knock on its front door. Washed some trucks, a house, tons of concrete, and a huge building!
Wife of rare-coin dealer indicted for Ponzi scheme cuts a deal
We are very grateful for our customers. RRCits principal, and its owner, Gaylen Rust, with an ongoing silver investment scheme that has defrauded hundreds of investors across the U. Synonyms for Civil Complaint in Free Thesaurus. Denise Rust is an individual residing in Layton, Utah.
December 21, Johnson Lise C. Liz Weston: Don't let others pick your financial adviser News am Updated: June 17, A lawsuit filed Tuesday seeks to retrieve more than a half-million dollars from five people and a company that it says improperly profited from an alleged Ponzi scheme. Search in title. Stormy Judge. A traditional science notebook is an official record of a scientist's research. Denise Rust admitted that she was aware that Gaylen Rust had misrepresented to investors that their money would be used to buy and trade silver.
Most had fallen and now sit building up rust. A new decade has started, and we are excited about the Rust conferences coming up. Additionally, administration tools will no longer be available to list administrators and mailing lists will be put into an archival state. Mariah Baihly Amanda D. An admiring profile in The Salt […]. The scheme was run through Rust Rare Coin and involved a fake silver trading program.Attorney John W. Barksdale today in announcing the largest coordinated sweep of elder fraud cases in history.
In each case, offenders allegedly engaged in financial schemes that targeted or largely affected seniors. The charges announced today are allegations, and the defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law. You are here U. Department of Justice. Tuesday, March 3, Four Utah cases 20 total defendants are included in the coordinated sweep.
Trial is set for June 8,in the case. The defendants and coconspirators used social media and social gaming applications to target widows. The indictment alleges they created false identities to befriend potential victims, feigned romantic interest, and eventually pressured them to send money to the defendants. Trial is set for May in the case. The charges allege the defendants, who have family relationships, conspired to obtain money and assets from the victim in exchange for false promises to perform work on her property.
To further advance the scheme, one of the defendants engaged in romance fraud by enticing the victim to enter into a romantic relationship. The charges alleges he used the romantic relationship to manipulate the victim into giving him money and assets. An April trial has been set in the case. They promised investors secured high interest returns through buying, selling and trading silver, according to the indictment.
Investors were encouraged to pull funds from their home equity, IRA, K or other retirement savings accounts or otherwise liquidate from other securities to invest as much as they could for optimum success, charges allege.
Approximately 45 percent of the investors are retirees who used retirement funds to invest with Rust. The average age of investors is The oldest investor The case is set for trial in May. Protecting elderly and vulnerable members in Utah communities is one of our highest priorities. Huber said today. We revere them. Elder Fraud Hotline Attorney General Barr also announced the launch of a National Elder Fraud Hotline, which will provide services to seniors who may be victims of financial fraud.
The Hotline will be staffed by experienced case managers who can provide personalized support to callers. Case managers will assist callers with reporting the suspected fraud to relevant agencies and by providing resources and referrals to other appropriate services as needed.
When applicable, case managers will complete a complaint form with the Federal Bureau of Investigation Internet Crime Complaint Center IC3 for Internet-facilitated crimes and submit a consumer complaint to the Federal Trade Commission on behalf of the caller. Some of these money mules act unwittingly, and intervention can effectively end their involvement in the fraud.
The FBI and the Postal Inspection Service took action against more than alleged money mules nationwide by conducting interviews, issuing warning letters, and bringing civil and criminal cases.
Rust Rare Coin family member admits to money laundering in alleged $200M silver trading scam
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By Ben Rumsby The spectre of match-fixing enveloped the Premier League after an expert on Asian betting markets claimed at least one game in the division had almost certainly been rigged. It is not possible to reveal the suspect matches in question or when they took place for legal reasons but details have been passed to both the Football Association and police. Wenger: English game is 99. Mark Brosnan, whose firm is one of the leading online betting exchanges, particularly in the Asian market in football, said both combined big swings in odds with a highly-suspicious performance from at least one of the players on the pitch.
He also said it was a misconception that match-fixers made money on spot-betting, such as yellow cards, insisting they targeted goals and outcomes. It is the most serious allegation that can be made about anyone involved in sport. It is about the most serious attack that can be made on sport.
Anyone with allegations, information or evidence should report it to the police. There are processes in place through which they, the Gambling Commission and the Football Association are to act following receipt of such information. We would of course assist any such investigation. In pics: Stunning aerial shots of London's football stadia by photographer Jason Hawkes As Blackburn meet Burnley and Spurs host Arsenal, Jonathan Liew passes judgement on English football's most ferocious derby games Seaman or Jennings.
Former Arsenal striker Alan Smith picks his greatest north London XI Ahead of tomorrow's showdown at White Hart Lane, we remember 11 players north London would rather forget Adam Hurrey: Is the North London derby now the showpiece fixture. Have Leicester finally run out of steam. And how ready is Pato. Ahead of a north London derby which could decisively shape the title race, whose starting XI does Alan Smith rate stronger.
The battles for the title and survival are really hotting up, but who has the toughest task. Thanks to some (very) simple maths, we can count down the easiest to the hardest. Manchester United have reaped the rewards of giving Marcus Rashford a run in the team - but which club can claim to have fielded the most local talent.
After Adam Johnson was told he faces a custodial sentence for having sexual activity with a 15-year-old, what other footballers faced spells inside. Live scores Premier League Table All upcoming fixtures All recent results Premier League fixturesWeather Forecast We no longer check to see whether Telegraph. Accessibility links Skip to article Skip to navigation Telegraph. Convicted: match-fixer Wilson Raj Perumal has been linked to the English game this week Photo: REUTERS Follow. Related Articles That was after The Telegraph was contacted by the chief executive of online betting firm Matchbook.
Tottenham vs Arsenal: who do we rate better.