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Rust Rare Coin owner admits to $200M Ponzi scheme in federal court

Rust Rare Coin owner Gaylen Rust pleaded guilty to fraud and money laundering in a $200M silver trading scam. The Utah man told investors the money would be used to buy and trade silver, but most of it went to other businesses, personal accounts or to other investors in Ponzi scheme. ....

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He fell victim to a Ponzi scheme. But now this Utah composer has made a 'huge' comeback

He fell victim to a Ponzi scheme. But now this Utah composer has made a ‘huge’ comeback
Lottie Elizabeth Johnson
© Jeffrey D. Allred, Deseret News
Utah composer Chance Thomas, who has written music based on “Lord of the Rings” for video games, works in his studio in Salt Lake City on Wednesday, Dec. 27, 2017. After being victimized by the Rust Rare Coin Ponzi scheme, Thomas has launched a new online music store called HUGEsound Records.
The cops and attorneys showed up at the end of the workday. Dark, gloomy faces matched the cold November weather.
On that late afternoon in 2018, they herded the employees at HUGEsound Post Production, a music facility in downtown Salt Lake City, into a conference room. And then they delivered a devastating blow: Gaylen Rust, who a couple of years before had bought the company HUGEsound and the building, had allegedly been running a Ponzi scheme for years, defrauding hundreds of investors nationwide ....

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A Utah Ponzi scheme ruined his business. But he made a comeback

Deseret News
He fell victim to a Ponzi scheme. But now this Utah composer has made a ‘huge’ comeback
The cops and attorneys showed up at the end of the workday. Dark, gloomy faces matched the cold November weather
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Utah composer Chance Thomas, who has written music based on “Lord of the Rings” for video games, speaks at HUGEsound Post Production in Salt Lake City in November 2018. After being victimized by the Rust Rare Coin Ponzi scheme, Thomas has launched a new online music store called HUGEsound Records.
Provided by HUGEsound Records
The cops and attorneys showed up at the end of the workday. Dark, gloomy faces matched the cold November weather. ....

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