A Fort Collins man has been sentenced to six years in prison and ordered to repay victims more than $1.8 million.
Gene Robert Little, 62, was sentenced Monday for orchestrating a multimillion dollar Ponzi scheme victimizing dozens of investors between 2002 and 2006, according to the Colorado Attorney General’s Office.
Little was indicted by a state grand jury last October and convicted of 35 counts by a Fort Collins jury in August.
Little used his company, Managed Cash Flow, to solicit more than $11 million in investments from more than 300 Coloradans, promising returns of up to 20 percent, the AG’s office said in a news release. But in 2005, he stopped investing new contributions and instead used the new funds to pay previous customers.
At least 41 investors never regained their principal investments.
Larimer County District Court Judge James Hiatt handed down the six-year prison sentence and ordered Little to repay $1,886,250 as part of a five-year mandatory parole.
Kieran Nicholson: 303-954-1822 or knicholson@denverpost.com
