- Associated Press - Saturday, June 7, 2014

DENVER (AP) - A grand jury has indicted a longtime Denver investment broker for allegedly stealing hundreds of thousands of dollars from a client.

The Denver Post reports (https://bit.ly/1hG89pu ) 59-year-old Michael John Urbana was indicted on nine counts, including multiple felony charges of theft from an at-risk adult.

Prosecutors say that during the course of a decade beginning in 2003, Urbana convinced the client, who is now 75 years old, to give him large sums of money to invest in real estate in Denver and Grand County, as well as to purchase bonds. But Urbana never invested the money or bought the bonds.

The indictment, unsealed Friday, says that in total the client lost $818,757.06. The Post reports a number listed for Urbana’s investment advisory company was disconnected Friday.


Information from: The Denver Post, https://www.denverpost.com

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