Four people have been indicted by a federal grand jury on the Western Slope for an alleged financial fraud.
The alleged “complex” scheme was intended to defraud creditors of millions of dollars, according to a United States Attorney, District of Colorado news release.
Gunther Glaub, Rocky Hutson, Peter Miller and Nelson Scott, all Colorado residents, allegedly submitted false claims to the government in attempts to pay off private debts, including mortgages and other loans, federal prosecutors said.
The four allegedly created and mailed fictitious financial instruments, altered postal money orders and committed bank fraud.
The total amount of the alleged fraud exceeded $29 million, the release said.
“However the defendants wanted to dress this up, it was nothing more than good old lying, cheating and stealing for personal gain,” U.S. Attorney John F. Walsh said in the release.
The four defendants, indicted by a federal jury in Grand Junction, were arrested at various locations on Friday and Tuesday. They’ve made initial appearances before a federal magistrate.
If convicted, Glaub faces up to 25 years in prison, prosecutors said, while Hutson, Miller and Scott face up to 30 years.
