A former Las Vegas real-estate agent has pleaded not guilty to 10 criminal charges in connection with his involvement in what appears to be Utah's largest ever financial fraud.

Bill Hammons, 63, St. George, also requested a jury trial in 5th District Court. No trial date was set, but Judge Eric Ludlow indicated it may have to wait until early next year because the trial could take 10 days.

Hammons received nearly $8 million in commissions or fees for shuttling investors to the companies known as VesCor. Ogden businessman Val Southwick, who is imprisoned after pleading guilty to nine fraud charges, ran those companies.

More than 800 people lost at least $180 million in VesCor companies, which were supposed to engage in real-estate development but which turned out to be a giant Ponzi scheme. Money from the latest investors was used to make payments to earlier ones to make it appear the companies were a going concern.

Hammons is a former LDS bishop in Las Vegas, and many of the people who invested with him are members of the church.

The Salt Lake Tribune


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