Attorney General Suthers Announces Conviction In PERA Scam

DENVER – Colorado Attorney General John W. Suthers today announced the conviction of 30-year-old Gordon Robert Moore, of Longmont, for his role in an investment scam involving 141 public school teachers in Colorado. Moore pled guilty to felony theft, felony computer crime, and felony securities fraud.

Moore was formerly employed by AXA Equitable as an investment advisor. In that capacity, Moore would contact public school teachers from districts across Colorado, asking them to move funds from their 401(k) accounts with Public Employees Retirement Association (PERA) into different accounts with AXA. Because retirement funds cannot be transferred for currently employed teachers, Moore would submit forged documents to PERA indicating the teachers had been terminated. All told, Moore illegally transferred nearly $1.7 million from PERA into AXA accounts.

Moore was indicted by a statewide grand jury on August 24, 2007. He will be sentenced on February 26, 2008.

Teachers from the following school districts were scammed by Moore:

  •  
    • St. Vrain School District (118 teachers)
    • Weld County School District RE-5J (12 teachers)
    • Adams 12 Five Star Schools
    • Brush Public Schools
    • Carbon Valley Park & Recreation District
    • Centennial Board of Cooperative Educational
    • Cherry Creek School District
    • Ft. Lupton School District
    • Ft. Morgan School District RE-3
    • Holyoke School District RE-1J
    • Jefferson County School District

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