DENVER—The Colorado Attorney General’s Office announced today that the Statewide Grand Jury has indicted Ronald D. Gollehon (D.O.B. 12/22/49) and his companies Open Source Games, Inc., WikiRainforest, Inc,, Gameworking, LLC and others on 56 counts of securities fraud. Gollehon is accused of offering investment opportunities for an online game in development and soon to launch. The indictment is the result of a joint effort between the Attorney General's Office and DORA’s Colorado Division of Securities.
“Mr. Gollehon failed to reveal his long history that included prior bankruptcies, pending lawsuits and $1.5 million in outstanding judgments against him,” said Deputy Attorney General Matthew Durkin. “He is a classic con artist who deceived investors and was caught red handed.”
"Potential investors need to thoroughly scrutinize any investment opportunity and to understand the risk before investing," cautioned Colorado Securities Commissioner Fred Joseph. “Investors should contact the Colorado Division of Securities to check if the investment has been registered or if the sales person is licensed in Colorado," Joseph advised.
Approximately 95 individuals made investments directly or indirectly through Gollehon resulting in $885,930 in losses. He directed investments into his bank accounts from people in Adams, Arapahoe, Boulder, Delta, Denver, Douglas, Elbert, Jefferson, LaPlata and Weld counties. Gollehon also solicited and accepted investments from people abroad and in Connecticut, Florida, Mississippi, Kentucky, Washington, Texas, Indiana, Wisconsin, Michigan, Tennessee, New York, Georgia, California and Louisiana.
The 56 charges contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proved guilty. Gollehon is now in custody and will be prosecuted in the Denver District Court.
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