Altus owner sentenced to prison | SummitDaily.com
YOUR AD HERE »

Altus owner sentenced to prison

DENVER – A mortgage broker who failed to pay $1.1 million in taxes has been sentenced to 18 months in federal prison.Ferren Rajput, 43, has made $260,000 in restitution and still owes about $869,000 to the Internal Revenue Service. He was sentenced Friday.”This is a phase in my life I’m completely ashamed of,” Rajput told U.S. District Judge Wiley Daniel. “It’s not going to happen again.”Rajput owned Altus Financial Inc. and Altus Real Estate, both of which are now closed.Prosecutors accused Rajput, a U.S. citizen originally from Yemen, of withholding taxes from approximately 30 Altus employees from 2002 to 2003 without paying that money to the government.The money, instead, was used on personal items, prosecutors alleged.Rajput, a father of five, said he became greedy and began “chasing” possessions beyond his means. He bought a jet and cars, and put money toward the construction of a $3 million mansion.Rajput pleaded guilty last year to the tax charges.


Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

For tax deductible donations, click here.
 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User