New details in Valley Investments investigation

By: KKCO Email
By: KKCO Email
New details about the investigation into Valley Investments.

unclaimed money.

New details about the investigation into Valley Investments.

Sources close to the case tell 11 News there may be as many as 200 victims with up to $30 million invested.

We first told you about the investigation in May.

Grand Junction Attorney Kirk Rider has been appointed by the state to collect and give back money and land to those investors.

And now, since looking at financial statements, he believes Phillip Lochmiller and Valley Investments were running a Ponzi Scheme.

The case is still under investigation by the FBI and the Colorado Division of Securities has already filed a lawsuit saying Lochmiller and his company have committed fraud.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Piper Location: Grand Junction on Jul 6, 2009 at 03:22 PM
    Valley investments and Phillip Lockmiller have been decieving and neglecting rental properties in Mesa County as well. Someone really needs to look very closely into this. It would be AMAZING to see what you would find.
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