Denver man accused in multimillion Ponzi scheme |

Denver man accused in multimillion Ponzi scheme

DENVER – A Denver man is under investigation for allegedly operating a Ponzi scheme involving more than $12 million.

The Colorado Securities Commissioner says 48-year-old Jerrald Green sold millions of dollars marketed as real estate investments but the majority of the money was never invested. Investigators say Green used investors’ money to buy condos for himself in downtown Denver and open two brokerage accounts.

Green denied the allegations and says it’s all a misunderstanding.

A Denver judge on Tuesday granted the commissioner’s request to freeze Green’s assets. The commissioner’s office says the investigation is continuing.

No charges have been filed yet against Green.

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