Local News
Lehi man pleads guilty in $60 million Ponzi scheme
A Lehi man admitted in federal court Monday to participating in a Ponzi scheme that defrauded hundreds of investors of more than $60 million. Matthew Morrison Bates, 42, pleaded guilty to conspiracy to commit wire fraud and money laundering at the Orrin G. Hatch United States Courthouse in Salt Lake City. He was charged by the U.S. Attorney's Office, District of Utah, on Sept. 30. Federal prosecutors said in a news release that the scheme began in or around May 2020 and continued through June 2025. Bates and other individuals falsely promised investors that Bates' company, Hedgehog ...
