Colorado Springs man allegedly scammed dozens out of $13 million with investment scheme

A Denver judge has shut down a Colorado Springs real estate firm over allegations its principal bilked more than $13 million from dozens of Coloradans who thought they were investing in rental properties but instead fueled the owner’s lavish lifestyle, state securities officials announced Thursday. The Colorado Division of Securities alleges in a lawsuit that Joseph Ryan — who’s been living in Las Vegas — used several of his companies, collectively known as Madyson Investments, to sell securities to at least 78 people across the state in the guise of acquiring residential and commercial properties to operate as rentals. Instead, the state says Ryan, 57, took the money — much… Read More

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