The owners and operators of Valley Investments in Grand Junction were indicted Tuesday on conspiracy and fraud charges, U.S. Attorney David Gaouette and FBI Special Agent in Charge James Davis announced Wednesday.
Philip R. Lochmiller, 61, of Mack and Philip R. Lochmiller II, 38, of Olathe, Kan., as well as a Valley Investments employee, Shawnee N. Carver, 33, of Grand Junction, were indicted by a federal grand jury in Denver. The older Lochmil ler was arrested without incident Wednesday.
The indictment alleges that from 1999 through May 2009, the three defendants knowingly and willfully conspired to defraud and obtain money or property by means of false and fraudulent pretenses, representations and promises. It also alleges the defendants engaged in a scheme to commit securities fraud.
