DENVER - Former Littleton resident, John Mark Godard, was sentenced on Monday in Denver District Court for defrauding 16 Colorado investors of $1.3 million, announced Colorado Attorney General John W. Suthers, and Colorado Securities Commissioner Fred J. Joseph.
Following the testimony of seven of the investors, Denver District Court Judge William Robbins sentenced Godard to 10 years in prison, citing the extraordinary amount of money taken by Godard. The Judge also ordered Godard, age 40, to pay back the $1.3 million that he admitted to taking as part of his investment scam.
Godard was initially arrested on April 9, 2005 in Fayetteville, Arkansas on a warrant issued by the Denver District Court following the return of an indictment obtained by the Colorado Attorney General’s office on April 8, 2005. Godard, following an investigation by the Colorado Securities Division, was indicted on seventeen counts of fraud in connection with the sale of securities in Colorado.
Godard induced Colorado investors to purchase stock in his non-existent companies by promising high yields on short term investments financing radio equipment. Godard then diverted significant portions of the funds for his own personal use.
Attorney General Suthers said, “This case should serve as a reminder to all Coloradans to research every investment opportunity before handing over their hard-earned money.”
Commissioner Joseph said, “A ten year sentence should send a strong message to any wannabe con artist that there is a substantial price to pay for destroying peoples’ lives by defrauding them of their life savings.”