KJCT8.com - Grand Junction, Montrose - Weather, News, Sports | Developers of USOC building indicted in fraud case
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Associated Press - November 25, 2009 8:14 PM ET
COLORADO SPRINGS, Colo. (AP) - The chairman and the president of the real estate company that renovated the U.S. Olympic Committee headquarters in Colorado Springs have been indicted in an unrelated securities fraud and theft case.
Prosecutors said Wednesday that a grand jury indicted LandCo Equity Partners Chairman Ray Marshall and President James Brodie on 33 counts each. They are accused of misleading 15 investors in real estate deals and stealing tens of thousands of dollars from them.
Authorities say none of the charges involves the new USOC building.
Both Brodie and Marshall posted bonds of $50,000 and are to appear in court Dec. 2.
Marshall's attorney, Pamela Mackey, told The Gazette in Colorado Springs that her client "is not guilty of any crime." Brodie didn't immediately return a call seeking comment.
Information from: The Gazette, http://www.gazette.com
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
