DENVER—The Colorado Attorney General’s Office today announced that the Colorado Statewide Grand Jury indicted Robert Scott Wiens, age 52, for securities fraud. Wiens was arrested on a golf course by officers with the Broomfield Police Department. The 19-count indictment alleges securities fraud, theft, and forgery and resulted from tight collaboration between the Colorado Division of Securities at the Department of Regulatory Agencies and the Attorney General’s Office’s Financial Fraud Unit.
“Vigilant staff at the Division of Securities realized there were problems and referred the RXM file over to our prosecutors,” said Colorado Attorney General Cynthia H. Coffman. “Wiens held himself out as a credible investment expert, yet he failed to disclose several material facts to investors who ended up losing hundreds of thousands of dollars.”
"We appreciate being able to work with the Attorney General’s Office to ensure these kind of cases against securities professionals are brought forward," said Colorado Division of Securities Commissioner Gerald Rome.
The indictment alleges that Wiens was a futures trader who promoted an investment opportunity in a boutique proprietary trading operation, RXM Holdings Ltd. Wiens purported to specialize in the purchase and sale of US Stock Index future contracts. He collected investment money that he promised would not be traded and would be held in safe and secure margin accounts at various trading companies. Wiens further promised a guaranteed profit for these “leased funds.” Investors were promised by Wiens that since they were the only ones who could authorize the release, their money was safe. Yet, in reality, Wiens had complete access to the accounts. Despite Wiens’ assurances, the Attorney General’s Office alleges Wiens comingled the funds and used the money to repay prior investors and cover his own personal expenditures.
The case will be heard in Jefferson County District Court. The filing of criminal charges or an indictment is merely a formal accusation that an individual committed a crime. The defendant should be presumed innocent until proven guilty.