- 3 -
corporation over which petitioner had control or in which he had
some involvement. Although petitioner contends that the
delinquent corporations had become dissolved under the law of the
State of Colorado, his actions were improper and violated the
criminal laws of the State of Colorado. Petitioner incurred
expenses in conducting this activity.
As a result of this illegal business activity, petitioner
directly or indirectly received money from the sale of the
transferred properties or from investors who advanced capital to
develop these properties. One such transaction involved real
property that had been held by a delinquent corporation and a new
corporation created by petitioner which obtained $280,000 in net
proceeds from a $380,000 loan using the property as collateral.
Ultimately, petitioner became the subject of civil and
criminal proceedings resulting in judgments against petitioner
and his incarceration. In particular, petitioner was convicted
of racketeering, theft, criminal attempt, securities fraud,
forgery, and first degree offer of false instrument for
recording.
Petitioner caused the organization of and controlled the
following corporate entities, each of which maintained bank
accounts: Aspen Western Development Corp. (Aspen); Youwonder
Corp. (Youwonder); Aspen-Western Mining Corp. (Western);
Riverbank Corp., Inc. (Riverbank); Riverbank West Corp., Inc.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011