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Utah man accused of $28 million Ponzi scheme declines to plead guilty
An Orem man who was scheduled to plead guilty to charges related to an alleged $28 million Ponzi scheme declined to do so at a federal court hearing on Tuesday.
Events had arisen that caused Chad Roger Deucher to not enter a guilty plea, his attorney, Matthew Howell, told U.S. Magistrate Judge Brooke Wells.
Howell did not specify what had occurred to cause Deucher to change his mind.
-snip-
Investors put in about $28 million into Deucher's real estate investment company, called Marquis Properties, and 170 of them lost about $16 million, according to the indictment.
Read more: http://www.sltrib.com/news/4349357-155/utah-man-accused-of-28-million