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A federal grand jury has indicted a Commerce City man for allegedly charging an advance fee to find loans and for failing to secure them.
The grand jury accused David Gwin, 50, of wire fraud and money laundering in a scam — in which he received $1.2 million in fees — that ran from October 2003 to August 2005.
Federal agents arrested him Wednesday.
According to the indictment, Gwin preyed on individuals and companies seeking multimillion-dollar loans.
He operated a business that was first called Asset Funding Solutions and later became Asset Global Funding.
