Industry News

Three Colorado residents arrested in $2.5M real estate loan fraud

Accused of defrauding investors

Three Colorado residents have been arrested and indicted in connection with an alleged scam said to have cheated 36 Colorado victims out of $2.5 million, officials said today. Raymond P. Morris, a Denver resident, Janet L. Morris and Gregory C. Erpelding were arrested and indicted for allegedly defrauding investors in real estate and foreign currency trading schemes, John Suthers, Colorado's attorney general, said today. "These defendants are accused of defrauding Coloradoans out of millions of their hard earned dollars," said Suthers. "This indictment sends a message to would-be criminals that we will not tolerate fraudulent investment schemes." A statewide grand jury indictment was filed Nov. 18 against Raymond Morris and his ex-wife, Janet Morris, and Gregory Erpelding, charging them with securities fraud and theft, the Attorney General said. Raymond Morris, who was charged with 141 felony counts, was additionally charged with forgery and offering false documents for recording, acco...