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.

Tags: ski resort, utah

This entry was posted on Friday, March 1st, 2013 at 10:00 am and is filed under People, Places. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.