Denver Man Sentenced To 37 Months, $1.2 Million In Restitution For Defrauding Investment Clients

DENVER - The United States Attorney's Office for the District of Colorado announces that Ian Gregory Bell, age 36, of Denver, Colorado, was sentenced to 37 months in prison, followed by three years of supervised release after pleading guilty to one count of wire fraud and one count of money laundering. The court also imposed restitution in the amount of $1,231,230.14, and a $150,000.00 fine.

According to the plea agreement, beginning in early 2020 and continuing through at least 2022, Bell devised, intended to devise, and participated in a scheme and artifice to defraud investors and to obtain money and property by means of materially false and fraudulent pretenses, representations, and promises. Over that time, Bell defrauded approximately 30 investors of over 1.2 million dollars. With the money, he traveled on lavish vacations, purchased jewelry, numerous expensive meals, and paid his fiancée's monthly credit card statements. He lulled his investors based on his status as a licensed investment advisor with previous experience as a managing director at an investment firm. He also advertised no risk investments and provided false statements showing substantial gains.

"Defrauding people who put their trust into a financial advisor is a serious crime," said United States Attorney Peter McNeilly. "Justice has been served for those who were negatively impacted by the defendant's dishonest actions."

"Bell portrayed himself as a successful investment advisor and preyed on innocent victims for personal gain," Amanda Prestegard, Special Agent in Charge, IRS-CI Denver Field Office. "Our special agents are experts in unraveling complex financial crimes such as Ponzi schemes that devastate victims emotionally and financially and erode the public's trust in our financial system."

"Bell defrauded innocent victims who had placed their trust in him and subsequently suffered financial losses and undue emotional stress," said Inspector in Charge Bryan Musgrove of the Denver Division of the U.S. Postal Inspection Service. "This sentencing showcases the phenomenal work that Postal Inspectors and their law enforcement partners do daily to bring those to justice who exploit others through fraudulent schemes."

Chief United States District Judge Philip A. Brimmer presided over the sentencing.

The case was investigated by the United States Postal Inspection Service and the Internal Revenue Service - Criminal Investigation. The prosecution was handled by Assistant United States Attorney Brad Giles.

Case Number: 24-cr-00345-PAB