Securities-Fraud Investigations up in Colorado

By: Associated Press Email
By: Associated Press Email

Denver (Ap) At least one thing is on the rise in this economic downturn. Colorado's Securities Commissioner says securities-fraud investigations are up.

Securities Commissioner Fred Joseph estimates his office has seen a 10 percent to 15 percent increase in open investigations over the last year. The typical number is about 200 active cases a year.

Some cases are concentrated in oil and gas, which took off during the first half of last year as fuel prices surged. Other cases involve real estate and investing.

The U.S. Attorney's office in Denver is also reporting an increase in financial-related investigations.

Fraudulent schemes can become popular in good times, then falter as the economy tumbles and operators struggle to pay investors who demand their money back.

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