A 29-year-old Draper man is facing federal charges after prosecutors say he used a web of investment schemes to defraud 200 people out of millions of dollars. Parker James Wilde was charged with securities fraud, wire fraud and money laundering, according to the U.S. Attorney's Office for the District of Utah.
Court documents allege Wilde began soliciting investors in August 2021, pitching e-commerce and day-trading ventures that promised success and significant returns, according to KUTV. Instead of generating the profits he pitched, prosecutors say Wilde funneled investor money into an extravagant lifestyle designed to project a false image of wealth and success.
The alleged scheme spanned multiple ventures and caused millions of dollars in losses across the roughly 200 victims named in court filings, per the same report. A jury trial has been scheduled for Dec. 18 in downtown Salt Lake City.
A Pattern Utah Prosecutors Have Seen Before
Wilde's case echoes other recent Utah investment fraud prosecutions. Earlier this year, a federal judge sentenced Matthew Shane Perkins for his role in an $89 million investment fraud scheme, according to the Utah Department of Commerce. Perkins had admitted to losing tens of millions of dollars day trading investor funds and misappropriating millions more for personal expenses, including a home down payment, according to the U.S. Attorney's Office for the District of Utah.
In a separate case, the U.S. District Court for the District of Utah sentenced Thomas Paul Madden of Washington City to 100 months in prison for defrauding more than 200 investors of over $23 million, the Utah Department of Commerce reported. And in the Alpha Influence Investment case, a defendant identified as Evans allegedly obtained roughly $20,894,674 from approximately 530 investors, according to the Department of Justice.
State Launches Unit to Chase Down Fraud Statewide
The Wilde case comes as Utah grapples with a surge in reported financial crime. Utahns have lost nearly $450 million to scams, fraud and other financial crimes since 2020, with reported losses reaching $108.4 million in 2025 alone, according to St. George News.
In response, Utah Attorney General Derek Brown launched the Utah Financial Crimes Intelligence Center, which brings together investigators, prosecutors, financial analysts and financial institutions to identify fraud patterns and connect related cases, the outlet reported. The center is expected to coordinate investigations spanning identity theft, account takeovers, romance scams, elder fraud, cryptocurrency schemes and money laundering.
Separately, federal data cited by the Federal Trade Commission show that nearly 30% of people who reported losing money to a scam in 2025 said it started on social media. No plea, attorney information, or detention status for Wilde has been made public, and it remains to be seen whether the December trial date will hold as the case moves forward.
