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GOLDEN, Colo.—A Jefferson County grand jury has indicted two men on charges of bilking Denver-area investors out of nearly $700,000.
Hidai Friedman and Jason Sharkey face charges of securities fraud and theft.
Prosecutors say the 32-year-old Friedman and the 30-year old Sharkey promised investors a 10-percent return with little or no risk through a purported real estate investment funds management company.
The indictment alleges the men used money from new investors to pay dividends to previous investors.
Jefferson County District Attorney Scott Storey said arrest warrants have been issued for both men. No phone listing was available for either man.
