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(KSL News) The man accused of operating one of the biggest investment schemes in Utah history makes his first court appearance today. The first appearance, that is, on criminal charges.
Val Southwick faces nine second-degree counts of securities fraud. The owner of Vescor Capital is accused of a Ponzi scheme in which investors lost more than $100 million.
One of those investors scored a victory yesterday when a federal judge ordered Southwick to repay him nearly $3 million. He doesn't know yet if he'll be able to recover that money.
