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Ex-deputy gets prison in investment scheme

5:09 PM, Feb 5, 2014   |    comments
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DENVER (AP) - A former El Paso County sheriff's deputy has been sentenced to 2 1/2 years in prison after pleading guilty to charges of running a Ponzi scheme that lost more than $200,000 of investors' money.

The U.S. attorney's office says 46-year-old David N. Hawkins of Colorado Springs was sentenced Tuesday.

Hawkins pleaded guilty in March to wire fraud and money laundering.

Prosecutors say he collected more than $1.2 million in investments from more than 70 people, including other law-enforcement officers. Authorities say some invested retirement savings.

Prosecutors say Hawkins promised returns of 10 percent a month from foreign currency trading.

Hawkins was accused of spending more than $175,000 of the money on cars and other personal expenses and using some investors' money to pay others who wanted to withdraw their funds.

(Copyright 2014 by The Associated Press. All Rights Reserved.)

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