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Indictment: Colorado men created business on paper, got COVID relief funds

The two men are accused of creating a business entity on paper and then submitting fraudulent applications for relief money from the government.

DENVER — A recently unsealed federal indictment describes a “scheme” in which two Colorado men allegedly conspired together to defraud the government out COVID relief dollars. 

One of the men made trips to Black Hawk to withdraw some of the money, according to court records.

Russell Foreman and Chandler Simbeck are named in a 12-count indictment that includes charges of wire fraud.

The total amount of fraud exceeds $300,000, according to the indictment. 

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Foreman and Simbeck are accused of creating a business entity on paper and then submitting fraudulent applications to the government to receive COVID-19 funds that were supposed to help cover legit expenses like payroll. 

The indictment indicates Foreman’s debit card was used to withdraw more than $20,000 in funds at two Black Hawk casinos. 

Court records indicate Foreman was arrested in late May and is currently out on bond. 

If convicted on the charges, the two men could face up to 20 years in prison. 

This investigation was conducted by the IRS.

Read the full indictment here:

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