- Associated Press - Monday, July 20, 2015

DENVER (AP) - A Wheat Ridge man has been sentenced to 28 years in prison for bilking 28 investors out of $4.4 million.

The Denver Post reports (https://goo.gl/Zmuutq ) 51-year-old Perry Sawano was sentenced Thursday after previously pleading guilty to two felony counts of securities fraud and two felony counts of theft.

Sawano owned and operated Integrity Financial Consulting in Wheat Ridge between January 2007 and March of 2013.

Prosecutors say he moved investors’ funds into alternative investments without telling them and provided little, if any, disclosure and information describing risks, merits or terms and conditions of investments.

As part of the scheme, prosecutors say Sawano used an investor’s money to pay off other investors. At other times, he deposited investments in shell company bank accounts he owned or controlled.

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

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