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Posts tagged "fraud"

Colorado realtor files counter suit against Fannie Mae

A real estate broker in Denver has filed a counter claim in response to a lawsuit against her, which was levied by Fannie Mae. According to reports, a contract with the broker, who received assignments from the federally-sponsored company, was terminated, and the company filed the lawsuit to affirm that the termination was lawful. In her response and counter claim, the broker asserts that the termination of her contract occurred as a result of her attempt to notify Fannie Mae of a number of alleged ethics issues.

Colorado business accused of $31 million fraud

A Colorado Springs investment group is under investigation by the Securities and Exchange Commission for possibly defrauding investors out of more than $31 million. The 59-year-old CEO faces accusations of falsely representing his company and promising nearly a five-fold return on investments. The SEC claims that he took the money from investors and spent it on himself for high-dollar items. Several other codefendants, all from out of state, are also named in the business litigation lawsuit.

Firm pleads guilty to insider trading

Colorado investors might be interested in a case brought against a prominent hedge fund group. The fund will plead guilty to charges of securities fraud, according to reports. The plea will be the end a federal court case that arose from a 6-year investigation into business transactions that allegedly involved insider trading.

Colorado tire recycler sentenced, fined on fraud charges

The Colorado attorney general announced that the president of tire recycler Colorado Tire Solutions admitted to filing fraudulent claims of waste tire tonnage. Accused of this fraud, the man pleaded guilty on Sept. 5 to one count of possession of a forged instrument and one court of forgery. The court sentenced him to 10 days in jail and two years of probation. He will also have to reimburse the Colorado Department of Public Health and Environment for $17,189, and his company was ordered to pay the Colorado Environmental Crimes sampling fund a $10,000 fine.