Trial set in fraud case involving purported gold mining operation

First District Courthouse in Logan.

LOGAN — The case against a 67-year-old Midvale man accused of defrauding a Cache County resident of hundreds of thousands of dollars is headed to trial. Jay D. Frandsen was originally charged in July 2019.

Frandsen participated in a virtual hearing in 1st District Court Monday afternoon, appearing by web conference. He was previously charged with 14 counts of securities fraud, two counts of issuing a bad check, one count of conducting business as an unregistered securities agent and one count of exploitation of a vulnerable adult. The second and third-degree felonies carry maximum prison sentences of 5-15 years.

Defense attorney Michael McGinnis told the court they had been unable to reach a resolution in the case with prosecutors. He requested the three-day trial that will be argued before a jury.

Judge Angela Fonnesbeck scheduled the trial to begin May 11. She ordered Frandsen to appear again in court April 11, for a final pretrial conference.

Prosecutors with the Cache County Attorney’s Office claim Frandsen contacted the alleged victim eight years ago regarding a gold mining outfit in South Africa. He reportedly told the victim the South African government was to purchase mining equipment worth millions of dollars and asked the individual to front money for fines, fees and taxes to facilitate the sale of the equipment.

Prosecutors alleged that Frandsen later issued bad checks between 2012 and 2015, in an attempt to reimburse the victim around $338,000.

Frandsen didn’t speak during Monday’s hearing. He pleaded “not guilty” to the charges on Oct. 6.

Individuals arrested and charged in complaints are presumed innocent unless or until proven guilty beyond a reasonable doubt in court.

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