A Parker man has pleaded guilty to money laundering for his role in a stock trading scheme.

The U.S. Attorney Office said Corey Earl Engelen, 47, of Parker, and co-defendant Michael Todd Osborn were indicted by a federal grand jury in Denver in February 2015. They were arrested a few months later.

The government alleges that the pair opened a trading fund, Infinite One LLC, and collected nearly $700,000 from investors. But the money was never used for trading, according to the government.

"Engelen used his share of the funds to make his home mortgage and car payments, to cover his day-to-day living expenses, and to travel to Europe and Africa," the government said, adding that Engelen wired money from the Infinite One account to buy a $45,000 Mercedes-Benz, "knowing that the funds were the proceeds of some criminal activity."

Read more at the Denver Business Journal: http://bit.ly/2enM7It