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ST. GEORGE — A Washington, Washington County, man convicted of bouncing $500,000 in bad checks to multiple investors last year has been indicted, along with a codefendant, on charges that he ran a $23 million dollar investment scheme.
On Thursday, Thomas Paul Madden, 66, appeared in federal court in St. George for a detention hearing.
Madden has been in custody in Washington County since his arrest on Jan. 30, after he was indicted on six federal charges that include four counts of wire fraud and one count each of wire fraud conspiracy and money laundering conspiracy, according to the indictment unsealed earlier this month.
The case is being prosecuted by assistant United States attorneys Stephen P. Dent and Joseph M. Hood out of the U.S. attorney's office in St. George.
