A developer, involved in the U.S. Olympic Committee headquarters renovation and arrested for theft and racketeering charges, will be formally charged Friday.
Ray Marshall was arrested on two counts of theft of $20,000 or more, and one Colorado Organized Crime Control Act (COCCA) charge, which is defined as "knowingly invest proceeds from a pattern of racketeering activity."
The arrest stemmed from apparent lax oversight of money during the USOC renovation. The mayor of Colorado Springs is calling for a special independent investigation.
Bach has asked the city attorney's office to investigate allegations that surfaced most recently in the arrest warrant for Marshall.
"Oversight of funds used for the public good is a sacred trust, and I take very seriously any lack off care or diligence in managing these funds. Once the investigation is complete, we will take the appropriate action," Bach said in a statement.
The insufficient oversight of those funds by city staff happened before Bach took office.
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