A man who bilked investors out of millions of dollars through a securities fraud scheme has been sentenced to two years in jail under an organized-crime statute.
Richard J. Darrow, 42, was sentenced yesterday after pleading guilty to one count of violating Colorado’s organized crime control act.
Authorities say he and two accomplices, Frederic R. Dryer, 60, and Jeffrey Dietz, 27, ran Mile High Capital and Replacement Property Solutions.
Darrow has agreed to pay $1.1 million in restitution to several victims.
The three were accused of carrying out a securities fraud scheme in which numerous investors were tricked into investing in residential duplex properties and tenant-in-common interests in property, which did not exist.
Dietz is already serving a 2-year probation sentence. A decision about restitution is still pending.
Dryer is set for trial on June 23.
Kirk Mitchell: 303-954-1206 or kmitchell@denverpost.com
