A 51-year-old Wheat Ridge man has been sentenced to prison for 28 years for bilking 28 investors out of $4.4 million, according to the Jefferson County District Attorney’s Office.
Among Perry Sawano’s victims is an 85-year-old woman, who lives in a Chicago retirement facility, who testified that he stole $800,000 from her. Sawano was sentenced Thursday by District Court Judge Christopher Zenisek, according to a DA’s media release Monday.
Prosecutors said Sawano sat with an elderly woman on her death bed, offering comfort, as he was stealing her life’s savings.
“We are very pleased with this sentence. Mr. Sawano has earned 28 years in prison, though it will not restore the damage done in the lives of those he betrayed,” said District Attorney Peter Weir. “Mr. Sawano’s conduct is unconscionable.”
Sawano with large amounts of money clients entrusted him with, prosecutors said.
“The true shame of this case lies less in the numeric value of the stolen wealth — though that in itself is substantial — and more in the betrayal of people who counted him as a reliable friend and adviser,” said Colorado Securities Commissioner Gerald Rome. “Often times these crimes cause damage that extends far beyond a victim’s bank account.”
Sawano owned and operated Integrity Financial Consulting (IFC), in Wheat Ridge, between January 2007 and March of 2013.
At times Sawano moved investors’ funds into alternative investments, without notifying investors, according to the release. He provided little, if any, disclosure and information describing risks, merits, or terms and conditions of investments.
When soliciting investors and advising them, Sawano failed to disclose facts related to how he conducted business and how the investment money would be spent. As part of the scheme, Sawano used an investor’s money to pay off other investors. At other times, he deposited investments in shell company bank accounts he owned or controlled.
in December 2014. In May, 2015, to two felony counts of securities fraud two felony counts of theft.
Kieran Nicholson: 303-954-1822, knicholson@denverpost.com or twitter.com/kierannicholson
