COLORADO SPRINGS, Colo. - Colorado Springs Police have arrested 35-year-old Benjamin Rose for a Ponzi scheme.
Detectives say he convinced investors to buy properties he claimed he would remodel and sell for a profit. The investigation in the money flow from the initial victim, showed the money was going to pay back other victim's investments and then Rose convinced them to invest higher amounts.
Investigators also say he used fraudulent land deeds and bank statements to further the deception.
CSPD says in the past year Rose has defrauded victims of over $450.000. He now faces theft and forgery charges.
Detectives think other unidentified victims have been defrauded. CSPD is asking anyone who has “invested” with Benjamin Rose or feels they have been otherwise defrauded by him to make a report by calling 719-444-7000.