Real estate scheme in Denver leads to felony charges

Two men were indicted by a grand jury on charges of defrauding 10 investors of $1 million (£0.77 million) in a real estate scheme in Denver.

Elliot Boston III, 47, and 52-year-old co-defendant Dan Jey together have a 40-count indictment, according to the Denver Post.

The charges say that Boston and Jey solicited money from one business and 10 investors across the country, promising to fix-and-flip properties across the Denver area. Those properties, however, were sold at a loss or foreclosed on, leading to losses for investors.

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