Man accused of bilking Trolley Square widow will stand trial

SALT LAKE CITY — A South Jordan man accused of swindling a widow of a man killed in the Trolley Square shootings out of life insurance money was ordered to stand trial Friday.

Jason Kim Brown, 42, was bound over on charges of securities fraud and theft, both second-degree felonies, by 3rd District Judge Paul Maughan in connection with an investment made by Vickie Walker, whose husband was killed in the Feb. 12, 2007, shooting at Trolley Square.

Walker's husband, Jeff, and son, A.J., were the first people shot by Sulejman Talovic that day. Her son survived, though he was seriously injured.

Vickie Walker took the stand Friday and explained that her husband was doing well financially before his death. They moved into a nice, spacious home in South Jordan. Brown lived around the corner.

"Jeff was making very good money and had started acquiring a lot of things, a lot of toys, a nice home, all the trappings of monetary success," she said. "When he died, it didn't take long to realize he had a lot more in debt than he did in assets."

Walker didn't say how much she received in life insurance money after her husband died, but said the money came about a month later.

She said she didn't remember who approached who, but said she was talking with Brown after church when he mentioned a "good, safe investment." In subsequent conversations, she said she was told about storage units that were to be built in Montana that would later be purchased by U-Haul.

"He felt like it would be a good investment that would help me ease my mind about my financial situation," Walker testified.

She said Brown told her he had helped others in a similar situation "i.e. widows," she said. When she wrote the check for $200,000, he urged her to make it $250,000, and she did, believing that she would either get it back within a year with 12 percent interest or, if she waited a few years, could have doubled her money.

"It was pretty much guaranteed," she said.

She testified that none of the money was ever returned.

Jonathan Stewart investigated the case for the Utah Division of Securities and testified he found that not long after Walker's money was deposited into Brown's account, it was used to pay Brown's home mortgage, Verizon Wireless bills and car payments.

Money was also transferred into two other accounts held in the names of Brown and his wife and used for shopping and restaurants, among other recreation activities.

But Brown said after the hearing that the $50,000 Stewart said was in the account when Walker's money was transferred in more than covered the expenditures that were detailed in court. He said he and a business partner had $40 million to $50 million in assets when Walker wrote the check.

"I had millions and millions of dollars owed to me," he said, explaining that he didn't think he would have a hard time getting Vickie Walker her money. "When the market crashed, it was overnight … I tried to help her and it didn't work out."

He also said Walker approached him — and a number of other people in the neighborhood — seeking financial advice after her husband died.

"I told her to pay off her home and put the rest in simple investments," he said. "Later, she said she was interested in higher risk, higher return."

Brown said he's now becoming "a scapegoat" and is being aggressively prosecuted because of Walker's "celebrity" status.

Brown was also adamant that no one ever lied to Walker or used her funds for anything other than business-related items. He said she will get her money back at some point.

"She'll get taken care of," Brown said. "We'll put something together."

Walker did not comment following the hearing.

An arraignment for Brown has been set for July 11.

Email:emorgan@ksl.com

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