Man stole $450,000 through Ponzi scheme, police say

From The Denver Post, “A 35-year-old Colorado Springs man is accused of stealing more than $450,000 this year through a Ponzi scheme, police said Thursday.

Benjamin Rose turned himself in Aug. 17 after police obtained a warrant for his arrest on suspicion of theft and forgery, police said. He is suspected of convincing investors into buying properties he claimed he would remodel and later sell for profit.

Police said the money from the first victim was intended to pay back investments by other investors as they were persuaded to contribute higher amounts.

“Additionally, (Rose) used fraudulent land deeds and bank statements to further his deception,” police said.”

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