Lehi woman pleads guilty to $5M in securities fraud

File photo: Pasja1000/Pixabay

SALT LAKE CITY, Utah, June 3, 2023 (Gephardt Daily) — A Lehi woman has pleaded guilty to bilking investors out of $5 million in a securities fraud case.

Crystal A. Huang, 41, “admitted she devised a scheme intended to defraud investors and obtain money and property, under false pretenses, to benefit her company, ProSky Inc., by providing false promises to potential investors,” says a statement issued by the U.S. Attorney’s Office, District of Utah.

The fraud took place in Utah and elsewhere between February 2015 and February 2020, the statement says.

“Huang would lull investor victims into a false sense of security about their investments by claiming her company, ProSky Inc., had millions in recurring revenue, when in fact it did not. She further supported her false claims by providing investors with falsified balance sheets, profit and loss statements, bank account statements and customer lists.

“During her scheme to defraud, Huang obtained approximately $5.025 million from approximately 13 investors and communicated via email, telephone and through an online database. In one transaction, Huang caused a wire transfer of $750,000 to ProSky Inc. via interstate commerce.”

Huang’s sentencing is scheduled for Aug. 15.

U.S. Attorney, Trina A. Higgins, of the District of Utah made the announcement. The case is being investigated by the FBI Salt Lake City Field Office, Provo Resident Agency. Assistant U.S. Attorney Mark E. Woolf of the District of Utah is prosecuting the case.


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