DENVER (KDVR) — A former Denver lawyer was sentenced Monday to three years in prison for stealing from an investor.
The attorney, Steven Bachar, pleaded guilty in September to a count of felony theft, according to the Denver District Attorney’s Office.
“Mr. Bachar made several misrepresentations and omissions to secure the investment funds and never invested or repaid the money, instead spending most of the investor’s $125,000 for personal use,” the DA’s office wrote in a release.
Bachar founded Denver-based Empowerment Capital and its subsidiary, Empowerment Law, the DA’s office said. An investor wired him tens of thousands of dollars on two occasions after Bachar offered a stake in his companies’ profits.
Bachar instead spent the investor’s money on things like credit card debt, personal expenses, meals and travel, and he paid nearly $32,000 of it to his ex-wife, according to the affidavit for his arrest.
Denver District Judge Eric Johnson presided over the case. He ordered Bachar to pay $182,000 in restitution, the DA’s office said.
“I am pleased with Judge Johnson’s sentence, which should send a very clear message that those who violate the trust of their investors will be held accountable regardless of their station in life and perceived privilege,” District Attorney Beth McCann said in a statement.