Aurora man sentenced to 10 years in prison for securities fraud
ARAPAHOE COUNTY, Colo. — An Aurora man who pleaded guilty to conning investors out of more than $900,000 has been sentenced to 10 years in prison, the 18th Judicial District Attorney’s Office said Tuesday.
Chisan Chong, 41, pleaded guilty to five counts of felony securities crimes in a case dating back to September 2011.
The Greenwood Village Police Department was assisted by the Colorado Division of Securities to investigate the case.
On Friday, Arapahoe District Judge Kurt Horton sentenced Chong to 10 years in the Department of Corrections for three counts and 25 years of economic crimes probation for the remaining two counts.
Chong was also ordered to pay more than $1.3 million in restitution to the victims.
“This defendant has engaged in long-term patent fraud and has taken no outward steps that he will respect the law going forward,” Horton said. “Securities fraud is a serious crime and can cause great personal and societal harm. A correction sentence is appropriate.”
Chong’s attorney had requested probation, while prosecuting attorney Erika Reuer requested prison time.
The defendant “is not credible. There is no reason to believe any explanation offered by Mr. Chong,” Reuer told the judge. “He is a detriment to everyone else and this is certainly a case that warrants prison.”