Denver jury convicts man who bilked couple in securities fraud

Steven Einspahr was convicted of one count of securities fraud

Steven-EinspahrA Denver District Court jury found a 61-year-old man guilty of a property investment scam in which he promised a couple that he would hold their $100,000 in a trust account, but instead spent most of their money.

Steven Einspahr was convicted of one count of securities fraud on Tuesday.

Einspahr took $100,000 from a couple who had an interest in buying property, telling them he would hold the money in a trust account. Instead, he used half the money for his personal benefit and non-investment related expenses, according to the Denver District Attorney’s office.

Einspahr also failed to tell the investors the he already had a securities fraud conviction and numerous unpaid civil judgments against him.

He is scheduled to be sentenced at 8:30 a.m. Oct. 27 in Denver District Court.

 

Article From:- https://www.denverpost.com

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