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Uptick in Colorado Securities Fraud Cases

By Michael MacPhail, Esq.

          According to today?s Denver Post, local securities fraud cases have increased as the economy has deteriorated.   Colorado Division of Securities Commissioner Fred Joseph is quoted as stating that open investigations have increased 10-15% over last year, with a focus on oil and gas and real estate cases.             Division of Securities investigations pose unique challenges for defense lawyers.   They are conducted by overworked investigators who are not attorneys.  Although this fact may create opportunities for effective advocacy, the investigators? lack of legal training may impede their understanding of relevant issues, including whether the activities in question actually involved  ?securities? under Colorado law.   Second, the Division of Securities has the authority to criminally prosecute defendants and historically has exercised this authority over 50% of the time...continue to full post

Full post as published by NASD, SEC and Regulatory Defense Blog on February 22, 2009 (boomark / email).