Lehi woman pleads guilty to defrauding investors of over $5 million in company scheme

SALT LAKE CITY (KUTV) — The C.E.O. of a Utah-based software company has pleaded guilty to committing over $5 million in securities fraud from investors.

Crystal A. Huang, 41, of Lehi, admitted to defrauding 13 separate investors of her company, ProSky Inc., of a combined $5.025 million in a Utah state courtroom on Tuesday, June 2.

According to the Department of Justice, from February 2015 through February 2020, Huang would entice both local and out-of-state potential investors by falsely claiming that ProSky Inc. had millions of dollars in recurring revenue, backing these statements with falsified balance sheets, profit and loss statements, bank account statements and customer lists.

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The DOJ said that Huang would communicate with her victims via email, telephone and through an online database, at one point swindling a foreign investor into a $175,000 wire transfer.

Huang is scheduled to be sentenced at the Orrin G. Hatch United States District Courthouse in Salt Lake City on August 15, 2023, at 2 p.m. before Judge David Barlow.

This case remains under investigation by the FBI Salt Lake City Field Office, Provo Resident Agency.

The case will be prosecuted by Assistant U.S. Attorney Mark E. Woolf of the District of Utah.