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June 3, 2004
Contact:
Lynn Kimbrough, 720-913-9025
HOOVER GUILTY OF
RACKETEERING AND 43 OTHER COUNTS
A Denver jury today
has found Will Hoover (DOB: 10-02-51) guilty of violating
the Colorado Organized Crime Control Act (racketeering)
and 43 felony counts of securities fraud and theft.
Hoover was indicted
by a Denver Grand Jury last year, accused of using several
different schemes to steal money from investors. The loss to
victims totaled more than $13 million dollars.
The trial lasted
about two weeks, prosecuted by Chief Deputy District Attorney
Joe Morales and Deputy District Attorney Phil Parrott. The jury
deliberated about two days before returning its verdict this
afternoon. Hoover could face up to 48 years in prison for
racketeering and up to 576 years in prison on the other felony
counts. He is scheduled to appear in Denver District Court,
division 10, on July 23, 2004 at 1:30 p.m. for sentencing.
He was led away from
the courtroom today in handcuffs and will remain in custody
until he can post a $100,000 bond and make arrangements for
electronic GPS monitoring.
The conviction is
the result of a joint investigation conducted by the Denver
District Attorney's Office with assistance from the Colorado
Department of Regulatory Agencies, Division of Securities and
the U.S. Department of Labor, Employee Benefits Security
Administration.
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