Parker Man Arrested Following Indictment For Securities Fraud

DENVER – Attorney General John Suthers and Securities Commissioner Fred Joseph announced today the arrest of Rico Vecchiarelli following his indictment on July 22, 2005, by the State Grand Jury and the subsequent issuance of an arrest warrant on the same date by the Denver District Court. Vecchiarelli’s accomplice, Sean Zweifel, age 30, was also indicted but has not yet been arrested.Attorney General John Suthers and Securities Commissioner Fred Joseph announced today the arrest of Rico Vecchiarelli following his indictment on July 22, 2005, by the State Grand Jury and the subsequent issuance of an arrest warrant on the same date by the Denver District Court. Vecchiarelli’s accomplice, Sean Zweifel, age 30, was also indicted but has not yet been arrested.

"These defendants are accused of swindling Colorado investors out of thousands of dollars," said Attorney General Suthers. "This indictment sends a message to would be criminals that we will not tolerate securities fraud of any type."

The State Grand Jury indicted Vecchiarelli and Zweifel on six counts of securities fraud and one count of theft, all class 3 felonies. According to the indictment, the two men made fraudulent sales of securities to Colorado investors by offering them investments in Vecchiarelli’s company, Infinity Investment Properties, LLC, for the purpose of financing the purchases of residential property.

Vecchiarelli allegedly induced investors by making promises of substantial rates of return on short-term investments of as little as 60 days. Vecchiarelli allegedly represented that he and his company owned a significant inventory of residential properties. It is further alleged that Vecchiarelli then diverted significant portions of the funds for his own personal use.

Five alleged victims from Adams, Arapahoe, Denver, and Jefferson Counties with losses over $150,000 have been identified so far.

Commissioner Joseph said, "This case shows that protecting Colorado investors is our No. 1 priority regardless of the dollar amount of the investment."

Vecchiarelli is currently being held in Douglas County jail. His bond is set at $100,000.

As with all persons charged with a criminal offense, Vecchiarelli and Zweifel are presumed innocent until proven guilty in a court of law.

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