A U.S. bankruptcy court judge has ordered a forensic accountant to take control of businesses run by a Kaysville, Utah man suspected of taking $65 million from 700 investors. Dee Allan Randall’s companies include Horizon Mortgage & Investment, Horizon Financial & Insurance Group and Horizon Auto Funding.
Randall filed for Chapter 11 bankruptcy in December. A hearing is set for Oct. 26. In court papers, the U.S. Trustee Office said it suspects Randall’s business schemes might be fraudulent. The office said Randall promised returns of up to 14 percent through investments in real estate, auto leases and insurance and continued to solicit funds from investors after filing for bankruptcy. Randall is also the subject of a Utah Department of Commerce investigation.
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Zaffino to Step Down as CEO as Aon’s Andersen Steps In 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
Cloudy Future for Bourbon Has Jim Beam Closing Distillery for a Year 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ From This Issue
