A Denver who misrepresented himself as a legitimate investment broker was recently sentenced on securities fraud and theft and ordered to repay $966,045 he obtained from a half dozens friends and acquaintances.
Jason Lobins, 48, pleaded guilty and was sentenced Aug. 8 in Denver District Court. A month earlier, he pleaded not guilty in a separate but similar case in El Paso County. That case is headed to trial in October. More on that later.
According to court documents in the Denver case, Lobins began telling friends in March 2019 that he was certified with the U.S. Securities and Exchange commission and had established a wealth management fund. The fund would have an initial total value of $650,000, Lobins reportedly told investors — all of whom he had a relationship of some degree with.
Lobins provided investment agreements and promised monthly statements on the earnings, yearly tax documents, yearly audits of his investments by a third party, and projected a 28% return on investments for the fiscal year 2019, per the arrest affidavit…