DENVER (AP) — Three men are accused of a scheme to sell nonexistent tax credits that authorities say cost victims more than $1 million and the Colorado Department of Revenue more than $20,000.
A Denver grand jury filed a 25-count indictment, which was announced Friday.
The district attorney’s office says those indicted are 54-year-old Alan DeAtley, 55-year-old Richard Davis and 61-year-old David Zamzow. They face charges of racketeering, theft, forgery and tax evasion.
DeAtley is accused of creating multiple entities to sell phony tax credits. He is being held on $250,000 bond in Washington state. Davis is being held on $50,000 bond in Oregon.
Authorities say Zamzow was taken into custody in Fort Collins and released after posting a $50,000 bond.
