Attorney General John Suthers Obtains Indictment and Arrest in Securities Scam

DENVER – Attorney General John Suthers today announced that criminal charges have been filed against former Littleton resident, John Mark Godard, in connection with an alleged scam, involving soliciting investors to finance non-existent radio equipment.

“Colorado's investors can be assured that we are working hard to combat securities fraud,” said Suthers. “This arrest sends a message to any perpetrator or white collar criminal that they should think twice before preying on unsuspecting investors.”

The Attorney General’s Office obtained a statewide grand jury indictment on April 8, 2005 against Godard, charging him with seventeen counts of securities fraud (class 3 felonies). The alleged scam involved sixteen victims from Arapahoe, Boulder, Denver, Douglas, and Jefferson Counties with losses of $1.4 million.

“Our alliance and continued cooperation with law enforcement authorities like the Colorado Attorney General’s Office and other federal and state agencies will continue to have a significant impact in protecting the citizens of Colorado from securities fraud,” said Colorado Securities Commissioner Fred J. Joseph.

Investors were promised high yields on short-term investments financing radio equipment. Godard allegedly told investors that he had contracted with a Fortune 500 company for the purchase of radio repeaters and needed investors to finance them.

The defendant was arrested in Arkansas on April 9, and is currently being held in the Washington County Circuit Court jail in Bentonville, Arkansas awaiting extradition back to Colorado. His bond has been set at $250,000. No trial date has been set.

As with all persons charged with a criminal offense, Godard is presumed innocent until proven guilty.

The case is captioned People v. John Mark Godard, Case No. 05CR1512, Denver District Court.

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