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Utah County Man Charged in $11 Million Fraud

Utah County Man Charged in $11 Million Fraud



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PROVO, Utah (AP) -- Prosecutors charged a Utah County man for fleecing 140 real-estate investors out of $11 million.

Paul Louis Bouchard, 48, was charged with two second-degree felony securities violations and a pattern of unlawful activity.

Each charge carries a maximum sentence of up to 15 years in prison.

Prosecutors say Bouchard has agreed to plead no contest and make restitution.

Court documents say the Highland man and his company, Hunters Capital, solicited money from investors on a promise of returns of 3 percent to 4 percent a month.

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Information from: The Daily Herald

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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