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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.