DENVER—A former Denver attorney has pleaded guilty to financial fraud charges.
Federal prosecutors said Friday that Robert T. McAllister has pleaded guilty to two counts of conspiracy to commit financial fraud and one count of bankruptcy fraud.
A plea agreement says McAllister embezzled more than $1 million of clients’ money that he had said he would hold in an interest-bearing account, then used some of that money on a down payment on a house in Clark. McAllister was accused of preparing phony bank statements to make it appear as if the clients’ money was safe and earning interest.
McAllister also was accused of including false information when he filed for Chapter 11 bankruptcy protection last year.
Sentencing is set for Sept. 14.
