An area developer is accused of submitting forged invoices for town-home developments and bilking local banks and investors out of more than $8 million.

A Denver Grand Jury has returned a 42-count indictment against Robert Button, Jr., a local developer, charging him with running a criminal enterprise that cost local banks and private individuals millions of dollars.

Button is charged with violating Colorado’s Organized Crime Control Act, theft, money laundering, eight counts of securities fraud, 15 counts of identity theft and 16 counts of forgery, according to information from the Denver District Attorney’s office.

He is also accused of using multiple entities, including KIVA Networks Inc., to take out multi-million dollar construction loans on three Denver town-home developments and using money from those loans for his own personal benefit rather than paying for the developments.

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