Ex-bishop of Mormon singles ward charged with investment fraud

by | Dec. 31, 2012

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A former LDS bishop is facing criminal charges after investigators say he involved members of his congregation or those who knew him through his church position in an investment scheme.

Chad Bennett Reid, 57, of South Ogden, was charged with three counts of securities fraud and one count of engaging in a pattern of unlawful activity, all second-degree felonies, for allegedly swindling at least three people out of more than $100,000. Charging documents state that the fraud occurred between March 2005 and February 2009 and resulted in a loss of $270,500 taken from 31 different investors.

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