On 2 July, KSL.com reported that Denise Gunderson Rust, 60, a member of a Utah family that ran a well-known rare coin business accused of running a $200 million silver trading scam has pleaded guilty to money laundering in federal court. The scam has been described as one of largest and most financially destructive frauds Utah has ever seen with nearly 700 victims. Federal prosecutors say the company, Rust Rare Coin Inc, defrauded at least 700 investors nationwide of at least $200 million. Members of the Rust family are accused of tricking people into believing they were pooling their money to buy and sell silver bullion, but the funds were allegedly used to pay other investors.
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