Attorney General, FBI announce successful extradition of man suspected of running a $23 million, multistate Ponzi scheme

DENVER — Colorado Attorney General John Suthers joined the Federal Bureau of Investigation today to announce that William L. Walters (DOB: 1/30/1965) has been extradited from Buenos Aires, Argentina, to Colorado to face a series of securities fraud charges stemming from a 2007 indictment.

“This extradition is the culmination of years of work and cooperation between my office and the FBI,” Suthers said. “In this case, justice delayed will not result in justice being denied. We look forward to presenting our case against Mr. Walters and securing justice for his victims.”

Less than a year before the Statewide Grand Jury handed down its indictment in May 2007, Walters fled the country. The FBI tracked down Walters in Argentina after his passport was flagged by Interpol. An Argentinean court approved Walters’ extradition earlier this month.

“Pursuant to the FBI’s Project Welcome Home, the Denver Division was able to work closely with the Colorado Attorney General’s Office to insure that William Walters was returned to Colorado for prosecution,” FBI Special Agent in Charge James H. Davis said. “This is yet another example of law enforcement cooperation in Colorado and our commitment to pursue fugitives from justice, even if they attempt to flee outside of the United States.”  

According to the indictment, Walters is suspected of running an elaborate Ponzi scheme and collected more than $23 million from victims in Colorado, California, Florida, Hawaii, Illinois, Massachusetts, Pennsylvania, Texas and Wyoming. Walters’ Colorado victims, according to the indictment, resided in Adams, Arapahoe and Douglas counties. Walter is suspected of soliciting day-trading investments from his victims between January 2001 and July 2006 by promising high rates of return, between 10 percent and 40 percent.

Walters, according to the indictment, used his victims’ investments to pay for his own personal expenses and to make “interest payments” to other investors. Records recovered from Walters’ trading accounts, however, show he did not engaged in day trading between August 2003 and March 2005, and, between January 2001 and September 2006, incurred cumulative losses on his accounts.

Prosecutors from the Office of the Attorney General will present their case against Walters in a Douglas County District Court.

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