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FORT COLLINS, Colo.—The Larimer County District Attorney has charged a Fort Collins man with multiple counts of theft and securities fraud on accusations that he mishandled $865,000 of private investors’ money.
Prosecutors say 16 clients entrusted 66-year-old Niles Errol Stansfield with money meant to be invested in water rights from canals along the Arkansas River.
Police arrested Stansfield on March 2 over allegations that only a small portion of investments made with two of his companies, New Amity Inc. and Fort Lyon Farms Inc., went toward the purchase of water rights.
Stansfield called the charges groundless.
He posted a $100,000 property bond March 4 and is due in court Monday.
