ST. GEORGE, Utah (AP) - An Alpine man has been charged with swindling an 88-year-old St. George widow out of $100,000.
According to documents filed in 5th District Court, Richard Loveday and his wife went to the woman’s home unannounced in April 2013 after his widow met her at a health expo.
Loveday is accused of promising her a 14 percent return, $875 monthly payments and a $15,000 bonus for a $100,000 investment. She gave him a $70,000 cashier’s check based on his word.
Court documents state the 47-year-old Loveday used the money for personal and family expenses.
The woman later wrote him a $25,000 check and withdrew $5,000 in cash from a credit union for him.
Loveday told investigators he didn’t take or receive any money from the woman.
He’s charged with felony counts of securities fraud and communications fraud and misdemeanor theft.
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