A Fort Collins man has been convicted of multiple counts of fraud in connection to a multi-million dollar Ponzi scheme.
Gene Robert Little was found guilty Tuesday of 35 counts after a Fort Collins jury deliberated for about two hours and 30 minutes, Colorado Attorney General John Suthers Office said in a press release.
Little, 62, through his company Managed Cash Flow, solicited over $11 million in investments from more than 300 Coloradans from 2002 to 2006, promising 15 to 20 percent returns.
In 2005 Little used nearly all funds collected from 40 new investors to pay promised returns to about 260 previous customers, the attorney general’s office said.
The state is seeking restitution for victims totaling more than $1.8 million.
Little was jailed Tuesday after his conviction and a Sept. 29 sentencing date has been set.
Kieran Nicholson: 303-954-1822 or knicholson@denverpost.com.
