Sentencing was set for Jan. 10. The pair face a maximum sentence of three years in prison and a $100,000 fine and they could owe the IRS as much as $336,000.
In other cases:
• Two Salt Lake County men have been sentenced to prison for a scheme in which they obtained an $18 million loan from the Arkansas National Bank to develop a condominium project on North Temple in Salt Lake City, then used much of the money for other construction projects and for personal use while submitting false paperwork to the bank.
Gregory Lee Hansen, West Jordan, originally indicted in 2009, pleaded guilty to two charges and was sentenced to a year and a day in federal prison. Uriah A. Kennedy, Midvale, pleaded guilty to one charge and received the same prison sentence. They were made liable for $7 million in restitution.
• The Securities and Exchange Commission and David B. Bartholomew, Pleasant Grove, have reached a settlement of allegations of violations of federal securities laws.
Bartholomew raised investor monies in 2007 into 2008 that eventually went to Jeffrey L. Mowen, who is now serving a prison sentence for operating a Ponzi scheme.
Bartholomew of LOA Capital LLC raised $6.7 million from 50 investors by lying to potential investors and failing to conduct any research while he was not registered to sell securities, court records show.
The settlement order bars him from associating with securities businesses and promoting any offering of penny stocks.