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Federal prosecutors want three people accused of running an investment scam to stand trial in Grand Junction, where many of their alleged victims live.
Prosecutors have asked to keep in Grand Junction the trial of Valley Investments owner Philip Rand Lochmiller, his son and another man. The men are accused of running a Ponzi scheme disguised as a real estate investment. The men are accused of raising about $31 million from as many as 400 investors.
Lochmiller’s attorney, Daniel T. Smith of Denver, has asked the judge to move the trial to Denver.
