Second Judical District
201 W, Colfax Ave, Dept. 801
Denver, CO 80202
September 18, 2023 Contact: Matt Jablow, 720-913-9025
DENVER – Denver District Attorney Beth McCann today announced that Steven Bachar, a licensed attorney and the founder of Denver-based Empowerment Capital LLC, pleaded guilty to one count of felony Theft.
In October 2017, an investor wired $75,000 to Empowerment Law, a subsidiary of Empowerment Capital, after Bachar offered him a 10% interest in Empowerment’s profits. Two months later, after Bachar offered him an additional 6% or 10% interest in Empowerment Capital’s profits, the investor wired $50,000 to Empowerment Acquisition, another subsidiary of Empowerment Capital. Bachar never invested or repaid the money, instead spending most of the investor’s $125,000 for personal use.
Bachar will be sentenced on November 6. He faces either probation or between two and six years in prison. Bachar has also agreed to pay $182,000 in restitution.
“Steven Bachar violated the trust of an investor – who was also a close friend of his — and, for that, he is being held accountable, as he should be. I want to thank the prosecutors and investigators in my office whose hard work over several years has resulted in the successful resolution of the case,” said DA McCann.
About the Denver DA’s Office:
Our mission is to professionally and competently prosecute crimes and investigate criminal activity on behalf of the people of Colorado, and to seek equal justice for all in the criminal justice system. Our mission also includes preventing crime, supporting the well-being of victims, being involved in the community, being transparent and accountable, and improving the criminal justice system to provide fair alternatives to incarceration in appropriate cases.