Former Colorado sheriff’s deputy sentenced for scamming co-workers, friends

Mar 8, 2017, 5:09pm MST

A former Jefferson County sheriff’s deputy was sentenced to prison after pleading guilty to securities fraud.

Daniel Sullivan, 46, has been sentenced to six years in the custody of the Department of Corrections followed by a mandatory five years of parole. In December, Sullivan pleaded guilty to one count of securities fraud, a class 3 felony.

In 2009, Sullivan started giving seminars to his coworkers at the sheriff’s office about how to build wealth through real estate and investing, according to an investigation by the Colorado Division of Securities.

But Sullivan was not licensed to advise on, solicit, or conduct investment transactions in the state of Colorado. Still, he offered a number of coworkers, friends, and family members investment opportunities with companies he claimed were bound to be successful, according to the office of Colorado Attorney General Cynthia Coffman.

A grand jury indictment in June 2015, and supplemented in November 2016, accused Sullivan of collecting more than $1 million from investors over five years from 2009 to 2014. While Sullivan did place a portion of the collected funds into investments, he used $671,000 of the investor

money on personal expenses, according to the state.

Sullivan was immediately remanded into custody. Restitution is to be determined at a hearing on April 28, 2017.

“This defendant was responsible for protecting Coloradans as a law enforcement officer, and instead chose to defraud people of their hard earned money for his own personal gain,” Coffman said.

http://www.bizjournals.com/denver/news/2017/03/08/former-colorado-sheriffs-deputy-sentenced-for.html?platform=hootsuite

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