A Golden couple has been indicted for allegedly running a $17 million Ponzi scheme which allegedly guaranteed returns of 48 to 120 percent involving investments in diamonds and the trading of international notes.
The couple, Richard Dalton, 65, and Marie Dalton, 60, allegedly operated a company called Universal Consulting Resources LLC which was able to attract investors in 13 states.
The U.S. Attorney’s Office in Topeka, Kan., alleged that the company operated a Ponzi scheme in which investor money was commingled and used to pay out profits to early investors to create the appearance to potential investors that the investments were performing as promised.
The indictment alleges that the Daltons used the investor funds to pay $936,000 for their Golden home. They also allegedly used the funds to buy a $35,000 Toyota Highlander and make a $5,000 deposit on their daughter’s wedding.
The indictment alleges that when the couple learned they were the focus of a U.S. Securities and Exchange investigation they stopped making payments to investors but told investors that they could expect further payments soon.
The SEC filed a civil suit against the couple in November.
They allegedly misled investors with false claims that the company’s European trader was switching banks, that the company was liquidating a cache of diamonds to pay investors back and that a plane carrying the diamonds had been forced to land in Amsterdam because three engines had gone out.
They also allegedly claimed they had discovered they were holding 18,000 fake diamonds.
They are charged with one count of conspiracy to commit mail fraud, wire fraud and interstate transportation of stolen funds.
The couple was arrested in Atlanta and will be returned to Denver to face charges.
The U.S. Attorney’s Office in Topeka has been appointed special prosecutor in the case.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
