Court Orders Takeover of Utah Man’s Businesses

A U.S. bankruptcy court judge has ordered a forensic accountant to take control of businesses run by a Kaysville, Utah man suspected of taking $65 million from 700 investors. Dee Allan Randall’s companies include Horizon Mortgage & Investment, Horizon Financial & Insurance Group and Horizon Auto Funding.

Randall filed for Chapter 11 bankruptcy in December. A hearing is set for Oct. 26. In court papers, the U.S. Trustee Office said it suspects Randall’s business schemes might be fraudulent. The office said Randall promised returns of up to 14 percent through investments in real estate, auto leases and insurance and continued to solicit funds from investors after filing for bankruptcy. Randall is also the subject of a Utah Department of Commerce investigation.