Utah man indicted for fraud in $1M scam offering phoney Nigerian oil investments

The Associated Press
May 15, 2014 11:11 AM

SALT LAKE CITY - A Utah man accused of trying to persuade people to give him more than $1 million for phoney oil investments in Nigeria has been indicted on federal fraud charges.

Brandon Benson was charged with four counts of wire fraud in the grand jury indictment handed up Wednesday in U.S. District Court in Salt Lake City.

Prosecutors say Benson lived in Salt Lake City and Orange County, California when he solicited nearly $1.5 million from seven investors from 2007-10.

Benson allegedly told his victims that the shipments of oil would be purchased at locations in Africa and transported and sold at higher prices at other places in Africa.

He's accused of carrying out a Ponzi scheme by using money obtained from new investors to pay money owed to earlier investors.

© Copyright 2015 Coast Reporter
Coast Reporter

Email to a Friend



Should the minimum wage in B.C. be raised to $15 per hour?

or  view results

Popular Coast Reporter

Community Event Calendar

Find out what's happening in your community and submit your own local events.