Ledger DC Journal - News, Politics & Crime

Purported environmentally-friendly investment opportunities cost investors at least a whopping $12.5 million in a 'Green' Ponzi Scheme, the Colorado securities commissioner said. According to the Associated Press, "Commissioner Fred J. Joseph said Tuesday in a complaint filed in Denver District Court that Green received $12.5 million from investors, but only about $4.9 million of those funds were ever invested."

Green Ponzi Scheme - $12.5 Million for Denver, Colorado Condos?

Federal regulators now accuse four people and two companies of fraud in the alleged Ponzi scheme that lured 300 investors nationwide in purported eco-friendly investments.


According to ABC News, 'Investigators contend Jerrald Green, 48, used investors' money to buy condos for himself in downtown Denver and to open two brokerage accounts, which incurred substantial losses."

More details here. "We have a good legal counsel, and I'm sure once the facts are understood, it will all be sorted out and we will be back to business," Mr. Green said in rebuttal. No charges have been filed against Green.

A Denver judge on Tuesday granted the commissioner's request to freeze Green's assets.