SALT LAKE CITY — A Utah County man who flew potential investors out of state even though he didn't have a valid pilot's license admitted in federal court Tuesday to running an elaborate fraud scheme.
Ronald D. Fisher, 56, pleaded guilty to making false statements to financial institutions, wire fraud, interstate transport of persons in execution of fraud and serving as an airman without a certificate.
In exchange for the plea, federal prosecutors agreed to drop more than 20 other charges and recommend he spend 84 months in prison. U.S. District Judge Tena Cambell will sentence him Sept. 6.
Fisher claimed to run a successful airplane and helicopter charter company called Fisher Aviation and that he had a net worth of $3.5 million. He used that professed wealth to fraudulently obtain loans totaling $5 million from various banks. He use the money to buy expensive cars and homes in Pleasant Grove and Park City.
Fisher ran a similar scam in late 1990s. He was convicted of the same crimes in 1998 and was sentenced to 137 months in federal prison. He was on probation at the time of the latest fraud.
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