Utah businessman going to trial for $350M fraud after plea deal falls apart

Jan 11 2013 - 6:21pm

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FILE -This undated file photo provided by the Davis County Jail, shows Jeremy Johnson, a Utah businessman accused of running a $350 million fraud scheme through his company is planning changing his plea Friday Jan. 11, 2013. Federal prosecutors have charged Johnson with one count of mail fraud in U.S. District Court in Salt Lake City, and if convicted he faces up to 20 years in prison. (AP Photo/ Davis County Jail, File)
FILE -This undated file photo provided by the Davis County Jail, shows Jeremy Johnson, a Utah businessman accused of running a $350 million fraud scheme through his company is planning changing his plea Friday Jan. 11, 2013. Federal prosecutors have charged Johnson with one count of mail fraud in U.S. District Court in Salt Lake City, and if convicted he faces up to 20 years in prison. (AP Photo/ Davis County Jail, File)

SALT LAKE CITY -- A plea agreement for a Utah businessman accused of running a $350 million fraud scheme through his company fell apart Friday in the U.S. District Court in Salt Lake City.

Federal prosecutors initially charged 37-year-old Jeremy Johnson of St. George with mail fraud related to his Internet-based business operations.

Johnson was set to enter a guilty plea Friday to two additional charges of bank fraud and money laundering as part of an agreement.

But the agreement fell apart after Johnson and prosecutors disagreed over terms of the agreement and a list of people that Johnson wanted to ensure would not be prosecuted.

The case is now set to go to trial.

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