AURORA | An Aurora man who bilked investors out of more than $900,000 has been sentenced to 10 years in prison.
Chisan Chong, 41, pleaded guilty March 3 to five counts of felony securities crimes in a case dating to September 2011, and was sentenced to prison May 12 by Arapahoe District Judge Kurt Horton for three of those counts. Chong will also serve 25 years of economic crimes probation for the remaining fraud counts.
Additionally, Chong also was ordered to pay more than $1.3 million in restitution to victims, including interest.
“This defendant has engaged in long-term patent fraud and has taken no outward steps that he will respect the law going forward,” Horton said. “Securities fraud is a serious crime and can cause great personal and societal harm. … A correction sentence is appropriate.”
Chong’s attorney had requested probation, but prosecuting attorney Erika Reuer objected. The defendant “is not credible. … There is no reason to believe any explanation offered by Mr. Chong,” Reuer told the court. “He is a detriment to everyone else and this is certainly a case that warrants prison.”
District Attorney George Brauchler lauded investigators and the judge’s decision.
“Economic crimes harm victims in ways that can last longer than physical crimes,” he said. “… I’m glad to see the court supporting our efforts in this area with a stiff sentence for this perpetrator.”
The case was investigated by Greenwood Village police, who were assisted by the Colorado Division of Securities, part of the Department of Regulatory Agencies (DORA). Colorado Securities Commissioner Gerald Rome also supported the sentence.
“Judge Horton made a strong statement to would-be con artists: Colorado is a bad place to cheat investors. Investment crooks are caught, prosecuted and sent to prison here,” Rome said.