Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a Boulder man for allegedly violating the securities registration and anti-fraud provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in Colorado.
Named in the Order is John C. Ball, and his company, The Resort at Pikes Peak, LLC, both from Boulder, Colorado.
The Staff of the Division of Securities (the “Staff”) alleged that Ball sought Colorado investors for his ski resort project located on the west side of Pikes Peak near Colorado Springs. The Staff alleged that Ball promoted the investment telling investors that each $10,000 investment has a projected return of $16,400, a return of 28% over two years. The Staff also alleged that Ball offered his investment opportunity to investors on a website thereby violating the registration provisions under the Act. In addition, the Staff alleged that Ball failed to inform investors of the risk that he would not be able to enforce the real estate agreement for the purchase of the ski resort land, and in failing to do so, violated the anti-fraud provisions of the Act.
"Soliciting investors through general advertising for private offerings of securities is a violation of the law when those securities have not been registered," said Commissioner Joseph. "Investors should always be wary of stock offerings promoted through the use of general advertising. Contact our office to verify that securities have been properly registered before purchasing any security after seeing an ad."
The cease and desist order, which Ball agreed to, orders him to immediately and permanently cease and desist offering or selling unregistered securities in Colorado, or otherwise engaging in conduct in violation of any provision of the Act. Cease and desist orders were also entered against both companies.
Prairie Gateway re-branded to Victory Crossing {Commerce City}
Commerce City "We need to be sure that we are not left behind in ED..."
Will we ever see Development @ the Prairie Gateway site in Commerce City, CO??? It has been years since the Commerce City Civic Center and Rapids stadium have been built and still no economic development. I guess patience is really a virtue.
