DENVER—A federal jury has found Philip Lochmiller Sr. guilty of conspiracy, money laundering conspiracy, money laundering and mail fraud.
The U.S. Attorney’s Office says the case stems from a fraud Lochmiller and others perpetrated while operating Valley Investments in Grand Junction. . Shawnee Carver pleaded guilty last year to conspiracy to commit securities and mail fraud as part of an investment fraud scheme that federal authorities say involved millions of dollars.
Philip Lochmiller Jr. pleaded guilty to charges that included money laundering.
Authorities say Carver was hired by the Lochmillers in 2005. Prosecutors say she assured investors that Valley Investments was doing well even though she knew that real estate supposed to secure the investments was already encumbered.
