Colorado Man Pleads Guilty To Operating Ponzi Scheme That Bilked $30+ Million From Investors

Mark Jay Jackson, 55, of Denver, Colorado, pleaded guilty to charges he operated a Ponzi-type investment fraud scheme that may have bilked more than $30 million from investors over a nearly 15 year period. Prosecutors allege that starting in April 1995 until June 2009, Jackson promised investors returns of 12 to 36 percent from his activities as a day trader. Instead, he is alleged to have used investment funds to enrich himself and to pay phony returns to other investors. Jackson is due to be sentenced on May 25 on the single racketeering charge he plead guilty to Monday. Jackson's scheme unravelled last summer and he was indicted in December on 59-counts of racketeering, securities fraud, theft and forgery.

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Read the criminal indictment here.