Jury Convicts Man Of Scamming Investors In Vacation Property Scheme
DENVER (CBS4) – A man accused of fraudulently obtaining more than $8 million from investors in a vacation property scheme has been found guilty.
Lynn Kimbrough with the district attorney’s office said Brian Wellens, 43, was found guilty of violating the Colorado Organized Crime Control Act and multiple counts of securities fraud.
“From 2006 until 2011, Wellens promoted a real estate vacation investment through his company called Continental Resort Homes, but instead of purchasing vacation properties as promoted, he used a substantial amount of the money for his personal expenses and other businesses,” Kimbrough said in a statement.
Wellens is scheduled to be sentenced on Jan. 9. He faces a sentence ranging from probation up to 132 years in prison depending on how the judge rules.
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