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DENVER—A 73-year-old real estate developer from Chicago accused of hiring a hit man to kill a business associate will remain in jail for now.

Brooks Kellogg had been set to have a detention hearing Monday but that’s been delayed at his lawyer’s request.

Kellogg, a part-time resident of Steamboat Springs, was arrested Tuesday in Denver after prosecutors said he paid $2,000 to an undercover agent he thought was a hit man. Kellogg allegedly asked him to kill Stephen Bunyard of Destin, Fla.

According to court documents, the two were in a real estate deal and Bunyard sued Kellogg, winning one judgment for over $2.5 million.

Kellogg is a member of Kansas’ Fort Hays State University Foundation board and co-chairman of a $60 million fundraising campaign.

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