DENVER (AP) — One of three men involved in a Colorado real estate investment scheme that prosecutors say defrauded more than 400 people of at least $30 million will find out his fate.

Philip R. Lochmiller Sr., was found guilty in July of mail fraud, money laundering and conspiracy stemming from the scheme. He is scheduled to be sentenced in federal court on Friday.

Philip R. Lochmiller Jr. was sentenced to eight years in prison for money laundering and conspiracy to commit securities and mail fraud. Shawnee Carver has already been sentenced to two years for conspiracy to commit securities fraud and mail fraud.

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Comments (2)
  1. Gopal Das says:

    Unfortunately, there are still tons of real estate scams out there…There is a new iPhone app recently released, called Scam Detector, which exposes like 500 scams. It is worth checking it out, if you have an iPhone. The app is also online – they have a free web version, if interested. Google it, it’s kinda cool, actually.

  2. lee says:

    The FBI and DEA fabricate evidence, steal from suspects and use murder to close those bad cases.
    Corrupt FBI and DEA use no-knock warrants to enter suspect’s homes while they are away and steal items.
    They mostly steal watches, jewelry and less frequently expensive prescription drugs by returning a second time and swapping them with fakes.
    Some of them where stealing wear item parts off of cars, swapping them with old worn out parts from their personal autos and in some cases leaving the auto in a dangerous state. They can remove a car from your garage aparently whenever they feal like it. For us common citizens this would be called grand theft auto, for corrupt FBI and DEA employees this is allowed .
    They also loosened a gas fitting to my furnace which filled my garage with gas fumes because I continued to complain after their death threats.

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