According to this article in the Deseret News from October 2009: http://bit.ly/aqmpIM , victims of fraud in Utah County lost $45 million in 2006 and 2007 together, $64 million in 2008, and at least $76 million in 2009. We need to take down the criminals engaged in this fraud. Now.
But, with that said, we also need individuals to realize that if something sounds too good to be true, it almost certainly is. Anything promising a likely return over 10% a year is risky. And anything promising a likely return over 15% a year makes it almost certain that there is a substantial chance you will lose your entire investment. GOVERNMENT CANNOT, AND SHOULD NOT, PROTECT YOU FROM YOUR OWN GREED AND STUPIDITY. Unless, or until, folks realize that, there are a lot of folks who will continue to invest money they cannot afford to lose.
However, if elected, I commit to do the following:
1. Give our Sheriff and County Attorney all the resources they need to prosecute individuals engaged in these investment fraud schemes to the fullest extent of the law, and recover as much as possible for the victims. Even if that means cutting my own salary as a Commissioner. These fraud schemes are harming thousands of individuals, and damaging the business reputation of our county. County Attorney Jeff Buhman states in the article that:
"The honest truth is we're barely scratching the surface [of the fraud in Utah County]," Buhman said. "We could double or triple our department easily, and we would still be extremely busy."
Maybe we need to make cuts else where, but if elected, I will get County Attorney Buhman the resources to go after these criminals, and recover as much as possible for the victims.
2. Start an aggressive education campaign on investment fraud. I will pay our employees in our County Attorney and Sheriff's departments to go out into the community and educate our citizens on how investment fraud works, and the kind of fraud they have seen in Utah County. I will ask the local churches to allow one of our employees to come to one of their Sunday meetings and take 30 minutes to give their presentation. I will also set up county web site that explains these things in detail, and a hot line where people can call to report investment schemes that are fraudulent so they can be shut down BEFORE they can steal millions.
But, what do you think? This is an important topic, and I'm very interested in your thoughts.
Thanks,
Joel
