CACHE COUNTY, Utah — In a troubling case of elder exploitation, two men from Utah have admitted their guilt related to a scheme aimed at defrauding a vulnerable adult.
Bruce William Anderson, aged 83, hailing from Logan, along with 79-year-old Robert Kenneth Yukes from Salt Lake City, pleaded guilty on September 22 to charges of Securities Fraud, which classifies as a second-degree felony.
These men faced charges since 2024 when they attempted to convince a 94-year-old man to part with his money for investment opportunities through deceptive and misleading information.
Originally, they were also charged with intentionally exploiting a vulnerable adult for an amount under $5000, categorized as a third-degree felony. However, this charge was ultimately dismissed as part of their plea agreement.
Anderson had a history, being previously convicted of two felonies linked to the financial exploitation of a vulnerable adult.
Adding to the gravity of the situation, neither Anderson nor Yukes had the proper licenses to sell securities or investments, and they were both under a cease and desist order from the state of Utah, barring them from any trading activity.
Case Background
Court documents reveal that on November 9, 2024, the duo reached out to an acquaintance identified only as M.T., a 94-year-old who struggles with cognitive issues and lives with his daughter, who looks after his finances.
Prior to the incident, M.T. had unwittingly handed over $30,000 to Anderson and Yukes under the false pretense that it would be utilized to secure millions in funds that were improperly held in a so-called safe in Africa.
Despite assurances that they would return his money, the scammers never followed through.
M.T. missed a call from them initially and shared the details with his daughter. Later, he returned their call, with his daughter present and the conversation recorded. During this recorded call, both men allegedly solicited M.T. to invest more money.
Yukes, being the primary voice on the call, misled M.T. about a ‘product’ related to Russian technology, claiming it would be sold to a Texan city for $1 million a month.
He also mentioned that M.T. could see a 300% return within a year and that similar deals had proven successful for others. They asked for a whopping $100,000 but later agreed to settle for $50,000, promising to also reimburse M.T. for the $30,000 he had previously invested.
What’s particularly alarming is that while talking to M.T., Anderson was overheard speaking in German, saying “Er ist zu alt”—a direct remark implying the elderly man’s confusion could hinder their scheme.
Ultimately, M.T. told them he would consider their offer but did not commit. Yukes wanted to follow up the next day, which M.T. agreed to, but they never got back to him, and he didn’t invest further funds.
Concerned about the phone call, M.T.’s daughter reported the incident to the Utah Division of Securities and provided the recorded evidence. As a result of the investigation, both men faced formal charges on June 13, 2025.
Authorities found that most of the information presented by Yukes and Anderson to M.T. was fabricated, and they seemed aware of M.T.’s cognitive challenges yet still made attempts to solicit money from him.
During their sentencing on September 22, 2025, the judge opted for probation instead of prison time, placing them on a 36-month probation period. Each was also fined $5,000.
