CASCADE, Colo - I'm learning much more about the investigation into a ripoff of more than a million dollars from two Southern Colorado water districts. One of them is at the Arabian Acres Metro Water District. The other is at the Cascade Metro Water District.
Terry Malcom is being accused of being at the heart of both investigations. Cascade Water Board of Directors President, P. J. Anderson confirmed to me that a civil law suit is going on between Colorado Springs Utilities and the Cascade Metro Water District. The future of Cascade water rights and the community's water system is at stake.
Malcom was convicted for a funding ripoff in 1998 in McCook Nebraska. The McCook Daily Gazette provided us with the first picture you've seen of Terry Malcom after his conviction.
P.J. Anderson and Malcom were friends and went to the same law school in Kansas in the 1970's. Anderson hired Malcom in late 2004 or early 2005. He feels just as betrayed as those who were ripped off.
Now fast forward to the civil case. P.J. Anderson told me that Springs Utilities is accused of over billing Cascade water users. Cascade water executive Terry Malcom allegedly cooked the books and pocketed the extra money. The civil case is expected to be heard in the fall.
I've made calls to the District Attorney's office to see where the criminal investigation stands. I have not received a call back about the status of the probe.