Utah finance group faces lawsuit in connection to multimillion dollar fraud scheme

A lawsuit was filed on Tuesday against Centerville-based financial group Wealth Navigation Advisors in connection to a decade-long Ponzi scheme that resulted in around $30 million being stolen from over 50 people.

A man who lost his entire retirement in the scheme is claiming that the firm neglected its duties to supervise the man responsible for the alleged scheme.

Kaysville man Stephen Swensen is accused of running the Ponzi scheme, according to a lawsuit filed by the Securities Exchange Commission in October.

Swensen had been registered to Wealth Navigation Advisors as a fiduciary for the last few years of his alleged Ponzi scheme.

FULL STORY: https://kutv.com/news/local/utah-fina...
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