U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23533 / May 5, 2016
Securities and Exchange Commission v. Marquis Properties LLC, Chad Deucher and Richard Clatfelter, Civil Action No. 2:16-cv-00040 (D. Utah)
United States v. Chad Roger Deucher, No. 2:16-cr-00189 (D. Utah)
The Securities and Exchange Commission announced today that Chad R. Deucher, of Orem, Utah, who was charged in an SEC enforcement action earlier this year, has been indicted for operating a fraudulent real estate scheme.
The federal criminal indictment was filed in Utah federal district court on April 27, 2016 and unsealed on the same date. It alleges that between March 2010 and February 2016, Deucher operated his entity, Marquis Properties LLC, and collected approximately $28 million from 250 investors while operating it as a Ponzi scheme. The indictment alleges that Deucher falsely told investors:
On January 19, 2016, the SEC charged Deucher and Marquis with violating the antifraud and securities registration provisions of the federal securities laws arising from substantially the same conduct as alleged in the indictment. The SEC obtained an asset freeze and other ancillary relief against Deucher and Marquis. The complaint also named Marquis Executive Vice President Richard Clatfelter as a defendant and Deucher's wife, Jessica Deucher, as a relief defendant for the purpose of recovering investor funds paid to Marquis. The SEC's litigation is continuing.
For more information see Litigation Release 23451 (Jan. 21, 2016).