Home - Trial Updates - Details of Amdy Esquivel’s plea agreement released

Details of Amdy Esquivel’s plea agreement released

Posted on October 22, 2014 in Trial Updates

Andy Esquivel Guilty of Securities Fraud

The full details of Andy Esquivel’s securities fraud plea agreement are now available for review.  Due to a glitch in the court records database, we weren’t able to access this document until just recently (the court attached the wrong plea agreement to Andy’s case file).

The full agreement can be found here.

The agreement details the conditions of Andy Esquivel’s release on Probation, including the requirement that he pay full restitution to his victims, get a job, and submit to random drug and alcohol testing for three years.  Once (IF) Andy completes his probation, the prosecutor cites no objection to reducing the two 3rd degree felonies Andy was convicted of to Class A misdemeanors – still serious crimes, but reduced one level in weight.  Probation is to last three (3) years.

Below please find a transcript of the guilty plea submitted by Andy Esquivel via his public defender:

“During the period of time from March 2008 through April 2009, [I] operated a business known as Xtagged.  [I] represented Xtagged was an Internet based business in which the user created an online profile for meeting & dating.  During that period of time [I] met with 3 individuals.  At various meetings, [I] represented that Xtagged was a registered LLC, that Xtagged was patented & the Dept. of Motor Vehicles had authorized Xtagged to communicate and access their databases.  That MySpace, Michael Jackson & Google were interested in purchasing Xtagged & that in near future Xtagged would become a public corporation.

Based upon [my] representations, these individuals purchased ‘stock’ in Xtagged.  They did not receive any return on their investment as promised and [I] failed to return their investment when asked.  A records search showed Xtagged was never registered in the state of Utah and no patents held in it’s name.  The DMV was contacted and they never gave permission for Xtagged to access their database.  No evidence that any offer to purchase Xtagged was made or that it ever went public.” – Andres Esquivel (8/19/2014)

 

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