The alleged victims are other deputies and law enforcement officers in Colorado Springs.
Federal prosecutors say David Hawkins opened a side business - PD Hawk Investments- and guaranteed 10 percent monthly returns on investments in foreign currency markets.
Over time, he is accused of bringing in $1.2 million from investors and spending much of it on himself.
Hawkins provided investors monthly statements to show their returns- investigators say it was all lie- and he never turned a profit.
(KUSA-TV © 2013 Multimedia Holdings Corporation)