2nd Rust Rare Coin owner charged in $200M Ponzi scheme pleads guilty
Gaylen Rust pleaded guilty Monday to fraud and money laundering in connection with a silver trading Ponzi scheme at Rust Rare Coin in Salt Lake City.
Source: ksl.com
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Rust Rare Coin owner admits to $200M Ponzi scheme in federal court
Rust Rare Coin owner Gaylen Rust pleaded guilty to fraud and money laundering in a $200M silver trading scam. The Utah man told investors the money would be used to buy and trade silver, but most of it went to other businesses, personal accounts or to other investors in Ponzi scheme.
Source: deseret.com