Shawn Merriman, an Aurora investment manager who pleaded guilty in December to running a Ponzi scheme that authorities say cost investors $21 million, will be sentenced in federal court today.
Prosecutors are seeking a sentence of nearly 16 years for Merriman, who raised the money from friends, neighbors and fellow members of the Mormon Church and spent much of it on rare art, antique cars and sports memorabilia.
Merriman’s attorney has asked the court for a sentence of no more than about eight years, based on his cooperation with authorities, his low risk of returning to crime and the losses he already has suffered since alerting family, clients and authorities to his scheme in early 2009. Merriman’s wife has since divorced him and moved out of state with their children, he was excommunicated from the church, and his career is over, defense attorney Patrick Ridley said in a recent court filing.
Another factor that could play into the sentencing: Authorities say Merriman gave clients investment advice; Merriman claims he managed a hedge fund and didn’t advise clients how to invest.
Authorities said his art, car and other collections are worth about $4 million, and proceeds from their sale will go to victims.
U.S. District Judge Marcia Krieger will preside over the sentencing hearing
Greg Griffin: 303-954-1241 or ggriffin@denverpost.com
