LOGAN — A 50-year-old Hyde Park man faces multiple felony fraud charges after authorities say he illegally sold recreational vehicles that were being held as collateral for a $225,000 loan.
According to court records, Scott Trent Cowley has been charged with three counts of communications fraud, a second-degree felony communications. The crimes are suspected to have occurred between August 2023 and September 2024.
According to charging documents, Cowley and a lender entered into an agreement around April 10, 2024. The lender issued the $225,000 loan and held four of Cowley’s RV titles as collateral. The terms required Cowley to pay the lender a specified portion of the net proceeds upon the sale of any of the RVs to reduce the loan’s principal. In return, the lender would release the corresponding title.
However, prosecutors allege Cowley failed to make any principal payments following the sales and eventually claimed he did not owe the lender anything.
An investigation by the Logan City Police Department revealed that Cowley successfully sold all four RVs to buyers using new titles, which he allegedly obtained.
According to court records, Cowley is scheduled to appear again in court on the three pending cases May 11. He faces up to 15 years in prison, if convicted.
Individuals arrested and charged in complaints are presumed innocent unless or until proven guilty beyond a reasonable doubt in court.