Colorado Springs business owner found guilty of wire and securities fraud

trial courts sentencing judge graphic 16by9

A Colorado Springs business owner has been found guilty of wire and securities fraud after a 12-day trial in federal court. 

Daniel Coddington, 62, was found guilty Thursday, according to the U.S. Attorney’s Office in Denver. He was originally indicted in October 2015. 

According to the indictment, Coddington was the principal and owner of Golden Summit Investors Group Ltd. from early 2010 through late 2011, which is when the crimes happened. 

When he is sentenced on November 9, Coddington faces up to 20 years in prison and fines of up to $5 million for each count. The court could also order him to pay restitution to the investment fraud victims. 

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Local Stories

More Local