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Utah man ordered to pay $95,000 in restitution for securities fraud conviction

Release Date: Jul 21, 2022

PAOLA – (July 21, 2022) – A Utah man has been sentenced to pay $95,000 in restitution for his conviction for violating Kansas securities laws, Kansas Attorney General Derek Schmidt said today.

Dean Loren Casutt, 53, of Alpine, Utah, was sentenced yesterday by Miami County District Court Judge Amy Harth to 24 months of probation and ordered to pay $95,000 in restitution for his conviction on two counts of securities fraud. Casutt agreed to pay the restitution in full at the time of sentencing.

Casutt pleaded guilty on March 3 to charges he violated the Kansas Securities Act when he solicited investment from a Miami County resident for the rehabilitation of property in Utah. Casutt made misleading statements as to the nature of the investment and omitted material facts regarding his finances in violation of Kansas law.

The case was investigated by the Office of the Kansas Securities Commissioner and prosecuted by Assistant Attorney General Stacy Edwards of the Fraud and Abuse Litigation Division of Schmidt’s office.

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