The defendant, Chad Sayers has been charged with one count of Securities Fraud alleging that beginning in and around 2012 and continuing to 2020, in the Central Division of the District of Utah, and elsewhere, Mr. Sayer solicited approximately 300 investors to invest approximately $10 million in securities offerings. Specifically, he directly and indirectly, knowingly offered or attempted to offer investments in SAYGUS. These investment opportunities promised imminent billion-dollar success with the launch of a revolutionary new smart phone and did so by means and instruments of transportation and communication in interstate commerce, that is, wire communications. During the relevant time period, Mr. Sayer, without the authority, knowledge, or approval of investors, used investor funds to pay personal expenses and pay old investors with money obtained from new investors.
Seven day Jury trial set for August 30, 2021 at 08:30 am in Room 8.300 before Judge David Sam.
For restitution questions please read the two pdf documents listed below: