Getting your player ready...
Colorado Securities Commissioner Fred J. Joseph announced Friday that he has filed a complaint in Denver District Court and obtained a preliminary injunction against Valley Mortgage Inc., doing business as Valley Investments Inc., and its owner, Philip R. Lochmiller, for alleged violations of the Colorado Securities Act.
In the complaint, Joseph alleges the defendants placed advertisements in The Aspen Times, Vail Daily, Summit Daily News, Glenwood Springs Post Independent and Grand Junction Free Press promising investors a 12 percent return on a 24-month term or 10 percent return on a 12-month term on their investments.
The advertisements stated that the investment was not affected by the stock market.
