COMING UP: Don't miss Xfinity Monday Live, with special guest Broncos tight end Vernon Davis. Watch it on CBS4 at 6:30 p.m. or head to ViewHouse Centennial to see it live!

El Paso County Ex-Deputy Gets Prison In Investment Scheme

DENVER (AP) – A former El Paso County sheriff’s deputy has been sentenced to 2 1/2 years in prison after pleading guilty to charges of running a Ponzi scheme that lost more than $200,000 of investors’ money.

The U.S. attorney’s office says 46-year-old David N. Hawkins of Colorado Springs was sentenced Tuesday.

Hawkins pleaded guilty in March to wire fraud and money laundering.

Prosecutors say he collected more than $1.2 million in investments from more than 70 people, including other law-enforcement officers. Authorities say some invested retirement savings.

Prosecutors say Hawkins promised returns of 10 percent a month from foreign currency trading.

Hawkins was accused of spending more than $175,000 of the money on cars and other personal expenses and using some investors’ money to pay others who wanted to withdraw their funds.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

blog comments powered by Disqus
News Updates & Notifications

Listen Live

AM/FM Stations

Featured Shows & Multimedia