A Denver District Court jury found a 61-year-old man guilty of a property investment scam in which he promised a couple that he would hold their $100,000 in a trust account, but instead spent most of their money.
was convicted of one count of securities fraud on Tuesday.
Einspahr took $100,000 from a couple who had an interest in buying property, telling them he would hold the money in a trust account. Instead, he used half the money for his personal benefit and non-investment related expenses, according to the Denver District Attorney’s office.
Einspahr also failed to tell the investors the he already had a securities fraud conviction and numerous unpaid civil judgments against him.
He is scheduled to be sentenced at 8:30 a.m. Oct. 27 in Denver District Court.
