The C.E.O. of a Utah-based software company is scheduled to be sentenced in court on August 15 after admitting to defrauding both in and out-of-state investors of a combined $5.025 million.
The C.E.O. of a Utah-based software company has pleaded guilty to committing over $5 million in securities fraud from investors.
Crystal A. Huang, 41, of Lehi, admitted to defrauding 13 separate investors of her company, ProSky Inc., of a combined $5.025 million in a Utah state courtroom on Tuesday, June 2. According to the Department of Justice, from February 2015 through February 2020, Huang would entice both local and out-of-state potential investors by falsely claiming that ProSky Inc. had millions of dollars in recurring revenue, backing these statements with falsified balance sheets, profit and loss statements, bank account statements and customer lists.
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