A Utah businessman built his eight event venues by bilking people at dental conferences out of their money with lies and a PowerPoint presentation, a federal lawsuit states.
Steven Down, the man behind The Falls Event Center LLC, was sued in federal court in Utah on Thursday by the U.S. Securities and Exchange Commission (SEC).
According to the lawsuit, Downs built and operated event centers in five states through high-interest loans from private investors.
In a consent agreement dated Dec. 12 but filed Thursday, Down agreed to pay a $150,000 fine “without admitting or denying” the SEC’s allegations.