Utah man Craig Garrick admitted in a plea deal that he induced victims to invest $450,000 or more in his company without revealing that he was on probation for felony mortgage fraud, according to the announcement.

“It is all too common for fraudsters to claim they are raising money for a business venture, when in reality, they are lining their pockets with the hard-earned savings of Utahns,” said U.S. Attorney John Huber.