Ex-stockbroker sentenced to prison, restitution | SummitDaily.com
YOUR AD HERE »

Ex-stockbroker sentenced to prison, restitution

DENVER – A former stockbroker who pleaded guilty to securities fraud has been sentenced to five years in prison and must pay restitution of more than $765,000.

The state attorney general’s office announced 64-year-old Derek Roy Kent’s sentence on Monday.

A state grand jury indictment alleged Kent and 37-year-old Adam Kelepolo raised $458,000 from investors for construction projects including a business campus in Larkspur, but some of the investors’ funds was used to make bank loan payments without investors knowing.

Kelepolo also was accused of using the money for personal expenses, including gambling expenses at Cripple Creek casinos.

Kelopolo is scheduled to go to trial May 4 in Douglas County District Court.


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