DENVER -- The Thornton liquor store called the largest in the world is facing the possible loss of its liquor license after state investigators said they found numerous violations of state liquor code, CALL7 Investigators learned.

State Liquor Enforcement Division investigators allege the family members who own Daveco Liquors in Thornton and Davidson Liquors in Highlands Ranch commingled ownership in violation of the state law that allow only one store per licensee, records show.

The division also alleged that Daveco liquors paid $2.6 million in cash payments to several area liquor distributors, and the majority of the payments were in $9,900 increments, the records say.

The owner of Daveco was involved in “deliberate and willful participation in the attempt to elude federal financial disclosures … by making cash payments,” the documents allege. Filing says federal law requires payments of $10,000 or more to be reported.

“The allegations are very serious,” said Laura Harris, director of the Division of Liquor Enforcement at the Colorado Department of Revenue.

CALL7 Investigator Tony Kovaleski asked: Essentially, you're accusing the largest liquor store in the State of Colorado of not following the rules.”

“Exactly,” Harris said.

Last year, Guinness World Records certified Daveco, which is larger than 100,000 square feet, as the largest liquor store in the world.

But Harris said Daveco and Davidson are not following the rules.

“These individuals have created two very successful liquor stores who we believe have gained an unfair economic advantage in this marketplace,” she said.

Also of concern to state liquor investigators are millions of dollars in cash that Daveco paid to several distributors. The largest amount was to Anheuser-Busch, which was paid 113 cash payments all but nine were in increments of $9,900, the state filing says.

“It's unusual to see cash transactions of that size and in those types of increments,” Harris said. “The cash was delivered by these principals to wholesalers and hand delivered a stack of cash usually in $9,900 increments. It’s very unusual. Wholesalers would probably agree that it is an unusual activity."

Harris said the state has given the liquor store operators about a month to propose a settlement, which she said will need to include the family selling one of the stores. If the state and liquor store owners can’t come to an agreement, the state may revoke the liquor licenses, requiring the stores to be sold or close, Harris said.

And even if Daveco and Davidson keep their liquor licenses, Harris said the owners may still face other legal problems.

“We're not at liberty to disclose any other agencies, any law enforcement agencies that we've made aware of our investigation,” Harris said, adding that all the information of their investigation will be public after the case is settled. “We are hoping other law enforcement agencies will take the appropriate actions that they think necessary.”

The state has not accused Anheiser-Busch or any other distributors of any wrongdoing.

Ron Wrobel, general manager of Anheuser-Busch Sales of Denver, released this statement: "Anheuser-Busch is not involved in the administrative hearing brought by the Colorado Department of Revenue against the Daveco liquor store. A-B Sales of Denver is one of several beverage distributors listed in the matter for legally selling product to and receiving payment from this retail outlet. Anheuser-Busch has not been accused of any wrongdoing and has acted in an appropriate business manner."

Daveco’s owner and the attorney for both liquor stores, Roger Morris, declined to comment on camera, but issued a statement that in-part read: “These charges do not have merit and are plainly off base. With respect to charges involving multiple licenses, the Division is charging these liquor establishments with violating several vague and unclear laws. With respect to charges involving cash payments, the Division is charging violations of federal statutes that are just simply not violations. We have told the Division that they are off base in pursuing these charges."

Read Daveco's response to this story.