DENVER - A man asking people to invest in an online gaming company has been indicted for securities fraud.
Prosecutors say Ronald D. Gollehon, 63, has been asking people to invest in various companies with names like Open Source Games, Inc., WikiRainforest, Inc, and Gameworking, LLC.
"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."
Prosecutors said approximately 95 people in Adams, Arapahoe, Boulder, Delta, Denver, Douglas, Elbert, Jefferson, LaPlata and Weld counties invested with Gollehon, giving him more than $885,000.
Gollehon also solicited and accepted investments from people in 14 other states and abroad.
"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," Colorado Securities Commissioner Fred Joseph said.