A former Boulder pastor has pleaded guilty to a felonysecurities fraud charge. Loren Ankarlo entered his guilty plea on Tuesday, December 14,
2010, in Boulder District Court.
Mr. Ankarlo has been accused of approaching people whom he attended church
with and bilking them out of thousands of dollars in what authorities
have described as a
Ponzi scheme. He allegedly raised between $200,000 and $275,000 from each investor
through his company, One Source Group.
Investors were told that their money would be combined with other investors'
as part of an investment “platform.” According to Boulder
County District Attorney Stan Garnett, they were to receive net short-term
returns of up to 50 percent.
Mr. Ankarlo admitted in court to making untrue statements or omitting
information. Douglas Wertzbaugher and Kevin Lauritsen were also listed
on the arrest warrant affidavit for their alleged involvement in the investment scam.
In light of Mr. Ankarlo’s guilty pleas, prosecutors agreed to dismiss
three counts of felony securities fraud, three counts of felony theft
and a count of conspiracy to commit securities fraud. Prosecutors also
dismissed charges of violating the Colorado Organized Crime and Control Act.
A Lafayette couple reportedly lost $275,000 by investing with Mr. Ankarlo.
Mr. Ankarlo is expected back in court on February 11, 2010.