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Show -, e j J5""r" " """", - Tsar---- -;tt?,. :-r-r -"' - . srrrr- -;.iT,tT rf$-2--'- .:;-v i t ... ' : , -sA 1 - ..- - - Afc'"A :- - C" - 7 los ' " : .;r -j - .' I f ' .". 7; , . .. ........ ..- . ."tt.-. jr . , Carl Shakespear of Tropic said he first saw this beautiful arch about three years ago when riding near the north cliffs of Butler Valley. Located approximately a haf mile off Cottonwood Wash Road, the arch has never been documented as far as Shakespear has been able to determine. He's calling it Petrified Wood Arch because of all the petrified wood in the area. Students in his Earth Science class at Bryce Valley HighSchool were given a view on a recent Spring Field Trip. Charges Filed On Escalante Man In Brian Head Investment Deal ESCALANTE Fifty-two-year old Frank P. Venuti of Escalante was charged with 17 felony counts, of securities fraud, theft and racketeering for soliciting investments for property at or near Brian Head last week. Venuti is accused of taking more than $4 million from investors and transferring trans-ferring their funds to Reliance Capital Cap-ital Partners and Reliance Holding Company. Both companies are controlled con-trolled by Venuti. The Utah Attorney General's Office filed criminal charges in the Fifth District Court in St. George after an investigation oy the Utah Division of Securities. Bail has been set at $200,000 and a warrant for Venuti's arrest has been issued by the Washington County Sheriffs Sher-iffs office. According to court documents, Venuti told potential investors that, their funds would be used to acquire property at or near Brian Head resort, re-sort, to harvest timber from the Brian Bri-an Head property and to pay property prop-erty taxes. The complaint alleges that from May 1997 through February 2000, Venuti also transferred approximately approxi-mately $302,980 of the investors ' funds into his personal bank account and $502,100 to his wife's personal bank account. Investigators Investiga-tors say they discovered some of the investor money was used ' to remodel re-model Venuti' home, pay Venuti's personal taxes, and purchase a boat. Court papers state a portion of these investment funds was also used to purchase and develop mountain recreation property near Brian Head. Venuti later transferred the title to some of these properties to himself and his wife. Venuti is accused of securities fraud for allegedly withholding required re-quired information from victims about their investment. Victims say they were misinformed about how their money would be used and were never told that Venuti had previously violated state and federal securities laws in the offer and sale of securities in a 1993 case regarding Ruby's Inn, located at Bryce. The complaint alleges Venuti defrauded victims in Salt Lake, Iron, and Washington Counties. "We are still concerned there may be more victims out there," said Assistant Attorney General Richard Ham'p. "Anyone who believes they have been victimized should contact investigators." The number for the investigator with the Utah State Securities Division is 801-530-6600. Chief investigator on the case was Dave Hermanscn of the Utah State Attorney General's Office. The case will be prosecuted by Neal Gunderson of the same office. An individual is presumed innocent unless proven guilty in a court of law. |