Colorado developer accused of bilking banks, investors of millions

DENVER BUSINESS JOURNAL - 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.

Read more at the Denver Business Journal: http://bizj.us/1oyai3

(© 2016 American City Business Journals. All rights reserved.)


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment