DENVER – Attorney General John Suthers today announced that former Littleton resident, John Mark Godard, pled guilty to two counts of securities fraud (class 3 felonies) in connection with a scam involving soliciting investors to finance non-existent radio equipment.
“White collar crime affects consumers’ wallets and their confidence,” said Attorney General Suthers. “I’m pleased that this investigation led to a guilty plea in a case that affected victims to the tune of nearly $1.4 million.”
The Attorney General’s Office obtained a statewide grand jury indictment on April 8, 2005 against Godard. The scam involved sixteen victims from Arapahoe, Boulder, Denver, Douglas, and Jefferson Counties with losses of $1,394,700.
Godard pled guilty to two counts of securities fraud, including one count for making misstatements in connection with the sale of securities and one count for conducting fraudulent business operations in connection with the sale of securities.
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 faces up to twelve years of prison on the charges. Sentencing is scheduled for February 6, 2006 at 1:30 PM in Denver.
The case is captioned People v. John Mark Godard, Case No. 05CR1512, Denver District Court.