Utah man headed to prison in investment fraud

Published July 2, 2014 9:17 am

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A 58-year-old Utah County man has been ordered to spend one to 15 years in prison and pay $2.2 million in restitution in connection with an investment scam.

Steven L. Flygare pleaded guilty in 3rd District Court to one count of pattern of unlawful activity, a second-degree felony, and was sentenced to the Utah State Prison on Friday.

The Utah Attorney General's Office said Flygare lied to investors in 2007 and 2008 about real estate developments and a water share project in Utah. Authorities say he used most of the investors' funds for personal expenses and other things unrelated to the investments he was pitching.