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.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Precise Investors. The information provided on Precise Investors is intended for informational purposes only. Precise Investors is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.
