SALT LAKE CITY — A Lehi man charged in federal court with running an alleged $60 million Ponzi scheme pleaded guilty Monday to wire fraud and money laundering.
Matthew Morrison Bates, 42, made his first court appearance Monday after being charged with conspiracy to commit wire fraud and money laundering. During the hearing, he pleaded guilty to both charges. He is scheduled to be sentenced on Jan. 12.
A federal felony complaint initially charged Bates on Sept. 30, alleging he ran his Ponzi scheme from May 2020 through June 2025 and defrauded investors with false promises through his company, Hedgehog Investments LLC…