- James Allan Sorensen, 42, faces multiple charges alleging securities fraud.
- Sorensen allegedly defrauded investors of nearly $65,000 from February 2022 to September 2023.
- He already faces charges accusing him of purchasing a Range Rover with a bad check.
SANDY — A Sandy man arrested last year for allegedly purchasing a $60,000 Range Rover using a check that bounced is now accused of ripping off investors with fraudulent business opportunities.
James Allan Sorensen, 42, was charged last week in 3rd District Court with four counts of securities fraud, communications fraud and engaging in a pattern of unlawful activity, second-degree felonies; and being an unregistered securities agent and selling unregistered security, third-degree felonies.
Sorensen was listed as the manger and registered agent for JIC Case LLC, "an online retailer specializing in health supplements and self-defense kits for women," according to charging documents. Investigators say, however, that Sorensen "has never been licensed to sell securities."
He is accused of collecting nearly $65,000 from at least six investors from February 2022 through September 2023.
"Sorensen purports to be an experienced and successful businessman with a background in marketing, banking, massage therapy, fashion, and health. Sorensen also purports to be an entrepreneur who has founded several companies. Sorensen's investment offering promised a share of high returns earned from his entrepreneurial experience and management efforts," according to charging documents.
One woman gave Sorensen a cashier's check for $12,000 that he claimed would be used to "sell self-defense kits to a charity specifically for women in Africa," the charges state. Prosecutors, however, say "no such contract existed" between Sorensen and the charity.
Instead, the $12,000 was used by Sorensen for "personal expenditures such as shopping, food and dining, travel, credit cards, personal entertainment, Ponzi-like payments, and other payments unrelated to the investment," according to the charges.
Two other victims from Layton and three from Salt Lake County also invested tens of thousands of dollars into the same scheme, the charges state. Sorensen solicited another man "for a loan, the proceeds of which would be used exclusively to purchase items to be included in the JIC Case ... contract with the charity," charging documents state.
"The episodes were not isolated, involved similar characteristics, and were all related to soliciting investment in JIC Case LLC," the charges state. "At least eight investors were solicited by Sorensen to invest in the same entities described in the counts above. Their investment funds were misused for personal expenses, and they are owed at least $54,627 in principal alone."
Last year, Sorensen was arrested and charged with purchasing a Range Rover with a bounced check and then placing a fake diplomatic license plate on it.
He was charged in 3rd District Court with theft of a motor vehicle, issuing a bad check and forgery, second-degree felonies; having a false title or registration and possession of a forgery device, third-degree felonies; driving on a suspended license, a class C misdemeanor; and an infraction.
His next court hearing in that case is scheduled for Sept. 1.
