Theft and racketeering charges reinstated against developer in alleged USOC deal scandal

Charges against Springs developer reinstated

COLORADO SPRINGS, Colo. - The Colorado Court of Appeals has reinstated charges against a Colorado Springs developer that were dismissed in 2012.

Ray Marshall faced six theft and racketeering charges in connection with allegations that he diverted $1 million in grant and city funds from a $42.3 million deal to keep the U.S. Olympic Committee headquarters in Colorado Springs.

Marshall was acquitted in April of 2012 of misleading investors in real estate deals and diverting tens of thousands of their dollars to solve a cash shortage at his firm, LandCo Equity Partners.

At the time, prosecutors wanted to combine all charges against Marshall into one case. But Marshall asked for them to be treated separately, and a judge agreed. After Marshall was found not guilty of lying to and stealing money from investors, he asked for the later charges to be dropped. He said the charges should have been joined together. A judge complied and dismissed the case.

The Colorado Court of Appeals has reverted the decision to dismiss the case, which means Marshall is once again facing those charges.

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