BOULDER, Colo. -- The lure of 30-percent returns in 30 days proved powerful for at least three people investigators believe were duped by a Boulder Ponzi scheme.

The connection between the three investors and the alleged con men is the City On The Hill Church at 7483 Arapahoe Road.

Between February 2008 and late 2009, investigators with the Boulder County District Attorney's office said they believe some $675,000 was swindled by the One Source Funding Group at 7176 Four Rivers Road, an upscale home on Boulder's east side.

"The product that was promised did not exist," said Stan Garnett, Boulder County District Attorney.

According to the arrest affidavit obtained by TheDenverChannel, it was an extremely confusing "pitch" with overseas investors, million dollar "platforms" and a long list of new names that would surface once the check was written.

One victim told investigators he was told "it might be necessary to….travel to Singapore or Panama to sign paperwork for the platform."

A classic case, Garnett said, of a scam.

"The investment will be presented in a way that's complicated and difficult to understand and evaluate for an ordinary person who's making an investment decision. Sometimes people hesitate to ask questions because they don't want to ask stupid questions. The bottom line is, when it comes to securities or investing there are no stupid questions."

Kevin Lauritsen is believed by Garnett to be the mastermind with Loren Ankarlo and Douglas Wertzbaugher working with him.

Wertzbaugher and Ankarlo face investigation of felony theft, securities fraud and conspiracy.

In the affidavit, one alleged victim, Ed Mazur, told investigators he, "placed a high value on Wertzbaugher and Ankarlo being associated with the church so Ed agreed to meet with (them)."

In another section, Mazur, 63 at the time, felt heavily pressured to invest.

"Ankarlo prayed with Ed so that Ed would have the strength to do the right thing," DA Investigator Mark Husmann writes.

Church members were upset to see the news about the arrests.

"None of the men involved in the Boulder District Attorney’s investigation attend City on the Hill. One of the men has never attended our church," said Senior Pastor Steve Shank. "One of the men has not been associated with City on the Hill for 20 years. One of the men has not attended our church for over eighteen months. Therefore, not one of these men is accountable to City on the Hill. The Church leadership was not involved in the scheme and did not recommend it to the members."

Shank told TDC that he received calls from Alaska and Costa Rica once TDC posted the story on Friday.

"We condemn all get rich quick schemes. We are well aware that financial predators across the nation are trying to lure in unsuspecting victims," Shank said. "As a Church we are very concerned about all the parties involved in this case. Most of all, we are concerned for the well being of the families that may have fallen victim to a crime. We are also concerned for the families of the accused, as they, too, are victims."

Garnett said Lauritsen is in Texas but he hopes to extradite him soon to Boulder.

"We want to protect churches and other institutions in Boulder County where people develop trust relationships from people that would use those relationships to take advantage," Garnett said.

PDF: Read Ponzi Scheme Alleged In Affidavit