SARATOGA SPRINGS, Utah, March 19, 2025 (Gephardt Daily) — A 28-year-old Saratoga Springs man who pleaded guilty to securities fraud in September has now learned his sentence.
Jacob Welch Dalton was sentenced to two years’ imprisonment and three years’ supervised release, and was ordered by the court to pay $1,553,806 in restitution,” says a news release issued by the United States Attorney’s Office, District of Utah.
“Dalton defrauded approximately 45 investors in a securities fraud scheme by obtaining investments from people that he knew personally or through social media,” the release says. “The sentence, imposed by U.S. District Court Judge Jill N. Parrish, comes after Dalton pleaded guilty to securities fraud on Sept. 30, 2024.”
According to court documents and statements made at Dalton’s change of plea and sentencing hearings, from October 2022 to December 2023, Dalton lied to investors to unlawfully obtain money and property by selling securities, that is investments in his company, Rogue Liquidity, LLC.
“As part of the scheme, Dalton provided falsified documents and fictitious information to investors electronically and by telephone,” the release says. “Dalton lied to investors about Rogue Liquidity, LLC, and its success by claiming it operated as an investment liquidity fund that pooled investor funds for guaranteed risk free return on principal and investment of up to 60%.
“Rather, the company had no liquidity pool and investors’ funds were used almost entirely for his own use. He also lied and created fictitious investor track records to obtain investor funds.”
Acting United States Attorney Felice John Viti of the U.S. Attorney’s Office for the District of Utah made the announcement. The case was investigated jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office, Provo Resident Agency. Assistant United States Attorney Mark E. Woolf of the U.S. Attorney’s Office for the District of Utah prosecuted the case.
