A Denver Grand Jury has indicted two men in a real estate scam that took nearly $1 million from 10 investors across the country.
Prosecutors say between September 2013 and April 2017, 47-year-old Elliott Boston created several business entities to con multiple investigators out of money.
One of those enterprises – which he ran with codefendant Dan Jey – solicited money from 10 people for “fix and clip” construction projects through the Denver area.
These properties were sold at a loss or foreclosed, causing the investors to be out of their money.
Prosecutors also say Boston used some of the investments for his personal expenses.
He was arrested on April 26 in Highlands Ranch on an unrelated FBI wire fraud warrant.
Jey was arrested in Corona, California on April 27.
Boston has been indicted for violating Colorado’s Organized Crime Control act, as well as several counts of securities fraud (along with Jey), theft, identity theft, forgery of a public record and forgery of checks.