Wednesday, March 28, 2012

Developer Jack D. Arbess indicted - Denver Business Journal:

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Arbess is accused of taking nearly $4 milliohn from investors, according to the indictment. Arbesz initially was indicted on similar theft charges inDecember 2008, pleadint not guilty in May, accordinhg to Denver District Court filings. The new indictmentr is related to changes in charges resulting from a receny Colorado SupremeCourt ruling, and replaces the originak indictment, according to DA’s Office spokeswomam Lynn Kimbrough. The previous indictment will be dismissed. “Th [new] indictment is more procedural,” Kimbroughg said. The current indictment allegess Arbess, president of Gulfstream Managementr Corp.
of Aurora, was involved in multiplee racketeering activities between 2002 and 2007 related to a Jefferson Countu real estate project calledEagles View. Arbess allegedly transferred Eagle View fundxs into hisGulfstream account, and used the funds for personalp purposes, according to the DA’s Arbess is free on a $10,000 bond. He’ss scheduled to appear in Denver District Court on June 23 for astatuds hearing.

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