Getting your player ready...
A Denver grand jury today indicted a real-estate developer for allegedly fleecing $3.8 million from investors and using their money for his own purposes between 2002 and 2007.
The indictment charged Jack D. Arbess, 49, with racketeering and 11 counts of theft, according the Denver district attorney’s office.
Arbess, the owner and president of Gulfstream Management Corp., is accused of transferring money from a Jefferson County real-estate development project called Eagle View LLC to his business account, where he used the money for personal purposes, according to the indictment.
He is free on a $10,000 bond.
