Calling it one of the largest Ponzi schemes in Utah history, a federal judge on Tuesday sentenced the mastermind behind the scam to 19 years in prison.
Gaylen D. Rust, 62, must surrender Wednesday to U.S. marshals. He pleaded guilty in December to three charges from running a $200 million silver trading scheme — two counts of fraud and one money laundering count.
On Tuesday, Rust apologized to his victims and his family.
According to civil and criminal court documents, beginning in at least 2008, Rust, who operated Rust Rare Coin with his family, induced investors to put money toward silver trading.
To read more about the sentencing, visit FOX13.
This article is published through the Utah News Collaborative, a partnership of news organizations in Utah that aim to inform readers across the state.
