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Bountiful man faces securities fraud charges
Mar 04, 2013 | 1177 views | 1 1 comments | 7 7 recommendations | email to a friend | print

SALT LAKE CITY — A Bountiful man and his business partner are facing felony charges for soliciting investments for a device that would supposedly download rental movies with a technology that was “better than Netflix.”

Davis Bruce Buttars, 52 was charged by the Utah Attorney General’s Office on Feb. 14 with seven second-degree felony counts, four third-degree felony counts and a class A misdemeanor involving securities fraud, theft and pattern of unlawful activity. 

Mark Whitney Keith La Count, 55, of Park City, was also charged with three second-degree felony counts and four third-degree felony counts involving securities fraud and pattern of unlawful activity.

The two appeared in 3rd District Court on Feb. 25. A scheduling  conference for both men has been set for March 29.

According to court documents, the defendants told investors they needed money to develop a “thumb-drive-like device” or chip for downloading or viewing movies. They said they were working with a “genius” who helped develop the stealth bomber and was using that technology for the device.

The alleged victims lived in Summit, Weber and Washington counties. Some were told they would be rich from the investments. None of them received any returns on their investments. The alleged victims were also not told the securities were not registered, nor that Buttars and La Count were not licensed to sell securities.

Investigators allege that Buttars used the funds for personal expenses.

mwilliams@davisclipper.com

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Textextex
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March 04, 2013
Here's another fraud everyone should be aware of - the Amway Tool Scam. Google "Stop The Amway Tool Scam Wordpress" for more information, and forward this information to every non-Distributor/IBO you know, so they don't get ripped off.

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