A Superior man has been convicted of securities fraud after convincing the owner of Grandpa’s Pawn & Gun in Longmont to invest $250,000 in a series of books described by one juror in the case as a “Western-themed version of ’50 Shades of Grey'” for outdoorsmen.
Bret Gardner, 47, was convicted of securities fraud — untrue statement or omission by a Boulder County jury following a five-day trial last week. Gardner is due to be sentenced Oct. 4. The securities fraud charge is a Class 3 felony and could carry a prison sentence of 4 to 12 years.
According to an arrest affidavit, Rod Brandenburg, the owner of Grandpa’s Pawn & Gun, invested $250,000 in the venture, with the agreement that 50 percent of the proceeds would go to Brandenburg until he recovered his investment, and then he would get 10 percent of the proceeds from the book and website from that point forward.
But neither the books nor the website were ever completed, and bank records showed Gardner spent much of the $250,000 investment on personal expenses. According to the affidavit, Gardner’s own accountant quit after he became “frustrated” with Gardner refusing to provide details of his business expenses.
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