Utah Ski Area Promoters Arraigned on FraudBy Rocky Thompson on March 1st, 2013
Two Salt Lake brothers were arraigned on fraud charges for raising millions of dollars to develop a ski area at a members-only resort. They sold the idea of converting Elk Meadows ski resort to investors, but the conversion failed to materialize and one of the two has been charged with failing to inform the investors of his previous bankruptcy and shady dealings. After the arraignment, he was held in jail for not paying back $4 million to other investors from another one of his great ideas. You have to feel a bit bad for the investors who lost money, but then again they were trying to build a private ski resort.