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Colorado man wracks up second indictment for securities fraud, while under investigation already

Already with an indictment against him for securities fraud, a Colorado man allegedly defrauded investors out of almost $700,000 – and garnered a second indictment.

According to the second indictment, Hamilton Alan Bird ran Nevada-based EquityFX, Inc., which pitched consumers on foreign exchange currency trading investments that promised high rates of return. Much of the money Bird collected was used to pay his personal expenses, to pay out to other investors and for false profits.

Between January 2006 and September 2008, Bird allegedly accepted up to $100,000 from investors in El Paso and Weld counties, Arizona, California, Illinois, New Jersey, Oklahoma and Texas. Bird allegedly collected about $690,000, according to a statement from the Colorado Attorney General’s Office.

“This case is remarkable not only for its breadth and the number of investors affected, but also because Mr. Bird perpetrated a portion of this fraud while criminal proceedings were pending against him in a securities fraud case brought by the Attorney General’s Office,” Colorado Attorney General John Suthers said.

The Attorney General’s Office had obtained an indictment against him alleging securities fraud in May, 2006 and the Colorado Division of Securities filed a lawsuit against him in February of 2005 for violations of the Colorado Securities Act.

Bird pleaded guilty in 2008 to one count of securities fraud, a class-three felony, and one count of theft, a class-three felony, in the Attorney General’s case.

An El Paso County District Court sentenced him in September 2008 to 24 years in prison.

A Denver District Court entered a $12.6 million judgment and injunction against Bird in May 2007 as a result of the Colorado Division of Securities case.


 

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