Perry Sawano of Wheat Ridge, Colorado, a suburb of Denver, was indicted by a Jefferson County grand jury for running a Ponzi scheme that bilked investors out of $4.8 million from 2007 to 2013. Sawano was indicted on seventeen counts: five counts of securities fraud and twelve counts of theft over $20,000.
Sawano allegedly ran the scheme using his Integrity Financial Consulting firm, acting as a licensed investment adviser and investment adviser representative. At first, clients’ money was invested in traditional custodial entities. From time to time, Sawano would then move the investors’ funds out of those traditional financial instruments and into alternative investments without telling the investors. These alternative investments included businesses owned and operated by Sawano, himself.
Sawano is believed to have lied to investors about his business operations and where he would put investments. Often times, investors money would be used to pay other investors, or Sawano would place the cash into shell company bank accounts he owned or controlled, classic elements of a Ponzi scheme.
If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.