Second Judical District
201 W, Colfax Ave, Dept. 801
Denver, CO 80202
November 6, 2023 Contact: Matt Jablow, 720-913-9025
DENVER – Denver District Attorney Beth McCann has announced that Steven Bachar, a disbarred attorney and the founder of Denver-based Empowerment Capital LLC, was sentenced today to three years in prison. Judge Eric Johnson also ordered Bachar to pay $182,000 in restitution. In September, Mr. Bachar pleaded guilty to one count of felony Theft.
In October 2017, an investor wired $75,000 to Empowerment Law LLC, a subsidiary of Empowerment Capital, after being offered a monetary interest in Empowerment’s profits. Two months later, Mr. Bachar approached the investor and offered an additional monetary interest in Empowerment Capital’s profits in exchange for an additional $50,000 investment. Mr. Bachar made several misrepresentations and omissions to secure the investment funds, and never invested or repaid the money, instead spending most of the investor’s $125,000 for personal use.
“I am pleased with Judge Johnson’s sentence, which should send a very clear message that those who violate the trust of their investors will be held accountable regardless of their station in life and perceived privilege. Steven Bachar will now pay a serious price for defrauding and abusing the trust of an investor. I want to thank the prosecutors and investigators in my office, as well as the Colorado Division of Securities, whose hard work has resulted in today’s sentence,” 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.