COLORADO SPRINGS, Colo.—A Colorado Springs developer is accused of stealing more than $1 million in grant money intended to pay for a new headquarters for the U.S. Olympic Committee and two related projects.
The Gazette () reports 47-year-old Ray Marshall was arrested Friday on two theft charges and a racketeering charge. He is free on a $50,000 bond.
The LandCo Equity Partners chairman already faced a trial March 19 on 15 unrelated securities fraud charges and 18 other counts, including theft and racketeering. He and LandCo President James Brodie are accused of misleading investors in real estate deals and stealing tens of thousands of dollars from them in that case.
Marshall’s attorney Jeffrey Pagliuca didn’t return a phone call from The Gazette seeking comment.
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Information from: The Gazette,
