Colorado Springs business owner indicted for investment fraud

DENVER — A Colorado Springs business owner has been indicted on federal investment fraud-related charges, according to the U.S. Attorney’s Office in Denver.

The office said Daniel Coddington, 59, of Colorado Springs, was indicted earlier this week. Another man, 48-year-old Jesse Erwin of Nevada, was indicted at the same time.

According to the indictment, Coddington was the principal and owner of Golden Summit Investors Group Ltd. from early 2010 through late 2011. Erwin was the attorney and general counsel for the company.

Coddington and Erwin both face 13 counts of wire fraud and two counts of security fraud. Each wire fraud charge carries a maximum penalty of 20 years in federal prison and a fine of up to $250,000. Each security fraud charge carries a maximum penalty of 20 years in federal prison and a fine of up to $5 million. The court could also order the defendants to pay restitution to the victims of the fraud.

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