Sign in Subscribe
Fraud

Utah Man Sentenced to 108 Months in Prison for Multi-Million Dollar Fraud Scheme

Strategic Insights

— 1 min read

Santiago Garcia Gutierrez, a Utah resident, has been sentenced to 108 months in prison for his involvement in a multi-million dollar fraud scheme that spanned several years. The scheme involved Garcia deceiving victims into investing in fake oil wells and luxury assets, as well as impersonating a federal agent and attorney to lend legitimacy to the scheme. Garcia's crimes resulted in the loss of over $4.7 million for his victims.

Key Takeaways:

  • Garcia defrauded a single victim out of over $2.8 million by falsely representing himself as a confidential informant with the Department of Homeland Security.
  • He also convinced the victim to use him as an intermediary to receive money that was believed to be used to purchase non-existent luxury assets.
  • Garcia contacted the victim on numerous occasions via text message, falsely claiming to be a confidential government informant, federal agent, and at times, his own attorney.
  • He defrauded eight additional victims across the country, convincing them to invest in federal oil wells in which he had an ownership interest.
  • Garcia promised large returns on investment, but diverted the investment funds for his own benefit, resulting in a loss of over $900,000 for these victims.
  • He failed to pay royalties to the federal government on the sale of oil extracted from the wells, despite knowing he had a duty to do so.
  • Garcia was ordered to pay $3,795,930.60 in restitution to the victims of his crimes and to forfeit $2,853,789.27.

Statistics:

  • Garcia defrauded a total of 9 victims, resulting in a loss of over $4.7 million.
  • He was sentenced to 108 months in prison.
  • Garcia was ordered to pay $3,795,930.60 in restitution to his victims.
  • He was forced to forfeit $2,853,789.27.
  • Garcia's scheme involved the use of multiple phone numbers and personas to deceive his victims.

Sources:

  • Court documents and statements made in court
  • United States Attorneys General
  • Defendant Impersonated Federal Agent, Attorney, and Others to Perpetrate $3.5M Fraud
  • IRS Criminal Investigation's Phoenix Field Office and the EPA investigated the case.
  • Senior Litigation Counsel Richard M. Rolwing and former Trial Attorney Erika Suhr of the Tax Division prosecuted the case.

Read more