Man behind Ponzi scheme in Colorado Springs sentenced to 4 years

A man was sentenced to 4 years in prison on Wednesday for a Ponzi scheme he played on investors in Colorado Springs.

Benjamine Rose, 35, convinced investors to buy properties he claimed he would remodel and sell for a profit. He would then take some of the money to pay back other investors and convince them to invest higher amounts.

“Preying on people who are retired is a significant, significant crime,” said Honorable Judge Will Bain in El Paso County court on Wednesday.

CSPD reported in August of 2017 that Rose defrauded victims of over $450.000.