Securities-Fraud Investigations Up In Colorado

By: Associated Press
By: Associated Press

DENVER (AP) -- Colorado's securities commissioner is reporting an increase in securities-fraud investigations in the tough economy.

Colorado Securities Commissioner Fred Joseph says his office usually has about 200 active cases. He estimates his office has seen a 10 percent to 15 percent increase in open investigations over last year.

The cases are concentrated in oil and gas, real estate and investing, which includes several alleged Ponzi schemes.

A spokesman for the U.S. attorney in Denver said the office also is seeing an increase in financial-related investigations.

Experts say fraudulent schemes can become popular in good times, then falter as the economy tumbles and operators struggle to pay investors who demand their money back.

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