Draper man charged in federal fraud case after a $7.9 million state judgment against him

DRAPER — An indictment unsealed Tuesday, Oct. 13, charges Parker James Wilde, 29, of Draper with securities fraud, wire fraud and money laundering in connection with multiple investment fraud schemes that caused millions of dollars of loss to approximately 200 victims, the U.S. Attorney's Office for the District of Utah said 1.

A jury trial is scheduled for Dec. 18, 2026, at the Orrin G. Hatch United States Courthouse in downtown Salt Lake City, the office said 1. U.S. Attorney Melissa Holyoak announced the charge 1. The case is being investigated jointly by the Utah Division of Consumer Protection and the FBI's Salt Lake City Field Office, and Assistant U.S. Attorneys Brent Andrus and Mark Woolf are prosecuting it 1.

According to court documents, Wilde allegedly solicited investors starting in August 2021 in a "done-for-you" e-commerce investment scheme promoted primarily through a curated social media display of investor success, personal affluence and specialized knowledge, and also solicited investors in a day trading scheme promising significant returns based on his expertise in the cryptocurrency investment industry 1. The office's release states that Wilde allegedly spent investor money on his extravagant lifestyle and personal use to create a misleading appearance of wealth and success 1.

An indictment is an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law, the U.S. Attorney's Office said in the release 1.

The federal charge follows a state civil case against the same Draper resident. On Dec. 18, 2025, Utah's 4th District Court entered a stipulated judgment in favor of the Utah Division of Consumer Protection of up to $7.9 million, with a permanent order prohibiting Wilde from participating in any money-making schemes, engaging in telemarketing or offering any business opportunities for sale within Utah, plus three years of compliance monitoring, the Utah Department of Commerce said 2.

The department said about $3.9 million of the monetary judgment will be stayed contingent on Wilde's full compliance with the order's injunctive terms and verification that he lacks the ability to pay the full amount, and that Wilde admitted in the stipulated order to violating the Consumer Sales Practice Act and to two violations of the Business Opportunity Disclosure Act 2.

The Division's complaint alleged that from 2020 to 2023 Wilde sold a fraudulent business opportunity through his companies, Private Label Accelerator (PJW Profit Ventures LLC) and Passive Ecom Ventures LLC, promising consumers passive income through "done-for-you" automated Amazon FBA stores, at an upfront consulting fee of $5,000 to $20,000 plus an inventory cost of $7,000 to $10,000 per type of product 2. The department's account of that complaint says the Division, after a two-year investigation, did not identify a single consumer for whom Wilde established a profitable Amazon store, that none of the complainants received a full refund despite the claimed money-back guarantee, and that bank records indicated most of the consumers' funds went to cryptocurrency purchases for Wilde and to paying off his own credit-card debt 2. Division Director Katherine Hass said the award "sends a clear warning to anyone considering similar deceptive practices in Utah" 2.

KSL.com reported that the indictment comes after the December 2025 order and that Wilde is scheduled to stand trial in December 3. The state matter was a civil enforcement action brought by the Division, while the federal matter is a criminal charge; no trial has been held in either case 12.