Salt Lake City, UT – Marc and Stephen Jenson once floated the lofty idea to transform the site of the former Elk Meadows ski resort east of  the town of Beaver in southwestern Utah, into the $3.5 billion Mount Holly Club  for trophy homeowners, with amenities including a private ski area and a golf course designed by Jack Nicklaus. In addition to drawing the ire of both existing Elk Meadows homeowners and Beaver County residents, their scheme has also drawn the interest of prosecutors, who have filed felony charges for communications fraud and money laundering against the two brothers.

Third District Judge Vernice Trease ruled last week that the state has assembled sufficient evidence to proceed with trial, and ordered the pair to appear for a Feb. 25 arraignment.

Marc Jenson, 52, formerly of the Salt Lake City suburb of Holladay, previously served time in federal prison for tax evasion and is currently serving two back-to-back zero to five-year prison terms for an unrelated case of selling unregistered securities in the alleged sale of a bicycle company. Prosecutors allege that he and brother Stephen, 47, of Sandy, Utah, made misrepresentations to three investors who together sunk $2.3 million into the Mount Holly Club project. The money laundering charges stem from efforts that prosecutors allege the brothers undertook to shift funds destined for the resort project between various accounts.

After the failure of the Mount Holly Club project, the assets of the former Elk Meadows resort were acquired by three partners who have since resurrected the ski area as Eagle Point Resort. Eagle Point, and its current owners, have no connection to the Jenson brothers or the Mount Holly Club.

Marc Jenson is being represented by Bountiful, Utah business attorney Brent Burningham, while his brother Stephen is defended by Salt Lake City attorney Edward Stone.