Following a two-week trial in Denver District Court, a jury has convicted a 48-year-old man on 25 counts of theft and securities fraud.
The man, Michael Mendenhall, was indicted in April 2011on 27 counts originally, but two charges had to be dropped when one of the victims could no longer proceed with the prosecution.
Mendenhall was an insurance broker who targeted elderly victims, convincing them to withdraw large sums of money to invest with him in exchange for promissory notes. Instead of investing the funds, Mendenhall used the money to pay off other investors, and to fund his personal expenses.
The original indictment identified 16 victims with total losses of about $1.2 million.
Another case is pending with an additional victim.
Mendenhall remains in custody, and is scheduled for sentencing on April 20.
Yesenia Robles: 303-954-1372 or yrobles@denverpost.com
