December 12, 2002
Contact: Lynn Kimbrough,
JURY HANDS DOWN INDICTMENT IN
SECURITIES FRAUD CASE
A Denver Grand Jury
has returned a multiple count indictment against a man accused
of racketeering and stealing more than one-million dollars from
Denver-area car dealers and private investors through investment
Bassford (DOB: 11-2-54) was indicted on charges of
violating the Colorado Organized Crime Control Act (F2),
twenty-seven counts of securities fraud (F3), and
twenty-seven counts of theft (F3 and F4).
alleges that Bassford began an ongoing pattern of securities
fraud and theft in September, 2000 using several of his
companies, including Autobucks, Autobucks.com and Nunetco. The
indictment alleges that the victims were persuaded to invest in
the companies but Bassford took the investor money and used it
for his own personal gain.
The indictment also
alleges that Bassford failed to disclose information about his
financial situation including bankruptcy filings, civil
lawsuits, and prior business failures.
According to the
indictment, there were 27 victims with losses totaling
The indictment was
handed down December 5, 2002 and was sealed until after
Bassford’s arrest on December 6, 2002. He was released from
jail on $100,000 bond and is scheduled to appear in Denver
District Court, division 8, on December 20, 2002 at 8:30 a.m. to
be formally advised of the charges.
filing of a criminal charge is merely a formal accusation that
an individual(s) committed a crime(s) under Colorado laws. A
defendant is presumed innocent until and unless proven guilty.
See Colo. RPC 3.6 ____________